Toronto Port Lands Company (TPLC) is an operating business and the largest landowner in the Port Lands. With more than 400 acres in our portfolio, our tenants are minutes from the downtown core and nearby transit and highway access.
We are a completely self-financing municipal corporation wholly-owned by the City of Toronto. Through our leasing, development, brownfield reclamation and land management activities we finance our operations, provide funding to City programs, and have the ability to deliver a financial dividend back to the City. In 2012 we provided the CIty with a $40 million special dividend.
TPLC developments include Pinewood Toronto Studios, a major film studio complex that anchors the Port Lands Innovation and Creativity Cluster. Cor Quay is the award-winning landmark office and broadcast building and first LEED Gold building on Toronto’s waterfront developed by TPLC. It was also named one of the 10 most impressive offices in the world.
We work closely with the City to accelerate economic growth and job creation while working with a wide range of public and private sector partners. Michael Kraljevic, President & CEO, TPLC
We work closely with the City to accelerate economic growth and job creation while working with a wide range of public and private sector partners. As a municipal corporation, TPLC has a unique role that adds value to City objectives. We contribute to broader city-building goals whether it is by strategic land acquisition, problem-solving, relocating companies to prepare for redevelopment or collaborating on special projects. As we remain mindful of our shareholder’s policies and objectives we also take our obligations as a business very seriously and continue to ensure we receive the best economic, environmental and social returns for the hundreds of acres of properties in the Port Lands.
TPLC’s mandate includes the provision, operation and improvement of sites, buildings and facilities, and the making of grants or loans to any person for the carrying on of promotional activities, all in relation to the establishment and carrying on of industries and of industrial operations and related uses; the sale of sites, buildings and facilities; and the ability to share profits and pay dividends to the City. The success of the central downtown Toronto area will depend in part on TPLC achieving our mandate.
The Port Lands strategic location represents a competitive advantage where many commercial, industrial, media and retail service-oriented businesses can effectively gain access to prospective and existing customers in the downtown core. TPLC’s advantage is that we are nimble and operate in a commercial setting with a reasonable means of expediting transactions and operations.
With this strong foundation as an urban development corporation and a history of award-winning developments, sustainable development and other initiatives, TPLC continues to provide a major contribution to building our City.