The Toronto District School Board (TDSB) has officially endorsed a bold multi-year strategic plan set out by the Toronto Lands Corporation (TLC). Entitled "Pathway to Foundational Schools in Our Communities," this visionary plan redefines how TLC will manage TDSB's real estate portfolio, beginning with the urgent modernization of schools and the strategic development of additional housing and community services.
With school buildings now averaging over 60 years old and a nearly $4.5 billion backlog in necessary repairs across the system, the need for modernized TDSB schools is not just urgent it's imperative. TLC is dedicated to unlocking the untapped potential of the TDSB real estate portfolio, ensuring that high-quality educational facilities are accessible to all students, staff, and families.
"At TLC, we believe that the value in a student's education extends far beyond the four walls of the classroom," says TLC CEO Ryan Glenn. "Schools can and should be more than just educational facilities. They should be the foundations upon which we build stronger communities."
As financial resources become increasingly scarce across all levels of government, particularly within school boards, and as Toronto grapples with critical challenges such as limited social services and a housing affordability crisis, innovative and collaborative solutions are essential. TDSB can harness its expansive 5,000 acres of real estate to forge impactful partnerships with government agencies, non-profit organizations, and the very communities they serve.
TLC's plan includes extensive partnerships, ranging from childcare and long-term care to market-rate and affordable housing, as well as community centers, libraries, and cultural hubs. This initiative can redefine how public service facilities are constructed and utilized by maximizing land value and achieving economies of scale.
The potential for these partnerships was already on display at Toronto City Council last week. On May 22, Council adopted a report directing the City to enter into a Memorandum of Understanding (MOU) with TDSB and its agent, TLC, to develop mutually beneficial building solutions across an initial list of eight TDSB properties which could create 10,000 new rental homes including approximately 2,100 affordable units. This partnership would represent a significant step towards meeting the City's housing supply targets and demonstrate the importance of partnerships across public institutions and orders of government to mobilize public land to respond to the housing crisis.
To support the creation of these affordable homes, the City will support the TDSB through financial incentives including exemptions from development-related fees and charges on these properties, making the building of schools and housing more cost-efficient. TLC is eager to pursue this potential win-win collaboration, highlighting the positive outcomes that can arise from such creative partnerships.
TLC is a wholly owned subsidiary and exclusive real estate services provider to TDSB. With specific expertise in real estate, leasing, and land use planning, TLC's purpose is to provide opportunities that ensure the accommodation and well-being of TDSB students in modern and innovative schools, preserve public assets where there is a demonstrated need, and collaborate to build communities where people live, learn, work and play.
For more information
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