As Toronto’s waterfront undergoes unprecedented change, Port Lands historic uses such as a large heavy industrial component is changing as well. Today the focus is to attract lighter industry and employment generating uses such as film and media convergence industries, office space and recreational activities to the Port Lands.
Our tenants include the public sector, manufacturing, recreational, heavy industry, media and creative industry (such as film studios) and retail. TPLC’s portfolio generates revenues that support the operating costs of the corporation as well as our financial obligations. TPLC also acquired two properties from Toronto Hydro as a strategic investment. These surplus properties have been added to corporation’s portfolio of income-producing properties.
To date we manage more than 100 leases and licenses, ranging from two-day licenses for film production shoots to property management of larger commercial buildings. Our properties are considered valuable because of their close proximity to downtown Toronto as well as being part of a waterfront area currently under revitalization.
TPLC owns and manages approximately three miles of dockwall in the Port Lands. TPLC owns and oversees operations on approximately four miles of rail lines in the Port Lands.
We continue to work on opportunities to leverage major events such as Expo 2025 and the Pan Am Games to attract investment to the Port Lands. In 2013 we concluded agreements for utilities and services for the Pan Am Games facilities.
TPLC encourages business creation and investment by providing more than $15 million to support business incubation since 1989 and close to $11 million to support sister corporation Invest Toronto’s operations since 2009.
We help sponsor City-led events like the annual real estate/economic development Signature Sites event, and are called upon to collaborate or lead projects such as the Port Lands Sports Centre. TPLC was retained by the City of Toronto in 2010 to provide planning, design, environmental risk assessment and other pre-development services for what was to e the newest and largest community and recreation facility in the area. Repurposing the old Hearn Generating Station on Toronto’s waterfront for a mixed-use facility was also considered at that time. We also work closely with the City to bring recreational facilities to the Port Lands as well as with Waterfront Toronto with whom we delivered the popular Cherry Beach Sports Fields. Again, former vacant lands were successfully returned to productive and recreational use.