Financial Return to the City

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City of Toronto, Build Toronto, Toronto development

While every development project we undertake is viewed through the lens of City-Building, we also recognize that these projects must be financially viable. Our foremost responsibility is to create better value from the assets transferred from the City.

We view value in various forms such as creating new public realm to enhance the streetscape, new residential space to support our growing City and new commercial space to accommodate employment, but also in the form of revenue. Leveraging underutilized real estate assets enables us to provide financial returns through an annual dividend and by generating additional revenues for the City in the form of development fees and new property taxes.

The exciting part for us is seeing the projects become new developments that are starting to rise across the City. These projects will continue to bring in revenue and help grow Toronto.

HIGHLIGHTS TO DATE

Provided to the City

Financial returns generated for the City to date from Build Toronto’s development projects in progress, Joint Ventures and projects already sold to developers:

$
0
M
In Dividends
$
0
M
In Development Charges & Fees*
$
0
M
In Property Taxes*
$
0
M
In Section 37 Contributions*

15 Projects Sold

To date, we have sold 15 projects to the private sector for completion of development. Of these 15 projects, 3 have been completed and 4 have broken ground.
In order to get properties market-ready, we use our real estate expertise to help prepare the raw land. We may complete environmental work, design and test various development concepts, complete a market analysis and/or take the property through the development application process, all in order to create better value.

2 Joint Venture Projects

Build Toronto has entered into partnerships for the development of a 65-storey residential high-rise at 10 York St. as well as a five-tower mixed-use development within the Ordnance Triangle. Within these projects, we work through the various stages of development in partnership with the private developer.

$218.2M
In Total Revenue

$65.4M
In Capital Spend 

$92.9M
Financial Value Created 

FORECAST

Projects in the Marketplace

We estimate that when fully developed, the 15 projects that Build Toronto has moved into the private sector will generate for the City approximately:

$109.2M
In Development Charges and Fees*

$21.0M
Annually in Property Taxes*

$15.7M
In Section 37 Contributions*

Total Anticipated Returns

Future financial returns to be generated for the City from Build Toronto’s development projects in progress, Joint Ventures and projects already sold to developers:

$
0
M
In Development Charges and Fees*
$
0
M
Annually in Property Taxes**

*The development charges, fees, property taxes, and
section 37 contributions for projects sold by Build
Toronto are based on publicly available information and
reasonable assumptions of the timing of the project
driving applicable rates. Projections for properties under
development are based on current development plans.
**Annual Projection is the estimated property tax for
the 28 projects in the five-year plan and 15 projects
sold based on their value as completed buildings as
per current development plans.

Data reflected above is from Build Toronto’s 2015 Annual Review.