TMU has made a partial acquisition of 2 Queen Street East to help consolidate various office uses into owned space.
A significant gift from Jack Cockwell and Brookfield Partners Foundation is making it possible for TMU to expand its campus footprint. TMU has acquired part of 2 Queen Street East, which is a 10 minute walk from campus, adjacent to St. Michael's Hospital, and located on the future Ontario line. This acquisition provides the university with more office space, and room for research growth in space that is partially owned by TMU.
Jack Cockwell, a long-time member of TMU's Board of Governors, and director and former President and CEO of Brookfield Asset Management Inc., has donated $10 million to secure the acquisition of space.
"We are incredibly grateful to Jack Cockwell and Brookfield Partners Foundation for their generous gift," said Mohamed Lachemi, president and vice-chancellor at TMU. "The property, 2 Queen Street East, is in a vital part of the city and helps us to expand our campus footprint. Thank you, Jack, for facilitating this exciting growth opportunity."
Jack Cockwell, pictured, helped facilitate the property acquisition with a $10 million gift.
Jack Cockwell is TMU's most generous individual donor. He has supported initiatives such as the Daphne Cockwell Health Sciences Complex, the Sheldon and Tracy Levy Student Learning Centre, the former Brookfield Institute for Innovation and Entrepreneurship (now part of the Dais) and the Daphne Cockwell School of Nursing, among others.
The acquisition of 2 Queen Street East will provide TMU with 4.5 floors of office space within the building. This directly supports TMU's Campus Master Plan recommendations to consolidate and start to reduce TMU's reliance on leased space. Over the next year, occupancy plans will be developed, balancing cost considerations and seeking to open up more space on campus for student-centred activity.
"This acquisition provides TMU with room for growth and moves us away from investing improvements into various buildings owned by others," said President Lachemi.
