Ryerson University to pursue expropriation of Yonge-Gould corner for student space

    Would prefer to purchase land directly from Sniderman Family

    TORONTO, July 3 /CNW/ - Ryerson University today announced it is taking
steps to pursue approval to expropriate land at the corner of Yonge and Gould
Streets, the site of Sam the Record Man. The store closed on June 30. Ryerson
has an urgent need for space to house the programs and services needed by
students, including more student study space, and an expanded learning centre
and library.
    "Our first preference has always been, and still is, to purchase the
property at fair market value directly from the Sniderman family," said
Sheldon Levy, President of Ryerson University. "We have had discussions over
the past 18 months, but given the closing of the business and our need to move
quickly to accommodate growing numbers of students, last week we informed the
Sniderman family of our intent to pursue expropriation. We also reinforced
that our preference continues to be to purchase the property from them."
    According to standards set by the Council of Ontario Universities,
Ryerson has only 2/3 of the space it should have for a university its size.
Ryerson has grown dramatically over the past decade, and with an increasing
number of students wanting to study in the GTA and at Ryerson in particular,
more space for students is critical to maintain a quality education at both
the graduate and undergraduate levels.
    The corner of Yonge and Gould is also of prime strategic significance to
Ryerson and will be part of the revitalization of the surrounding
neighbourhood.
    Said Levy: "With this property Ryerson can play an important role as
catalyst in the redevelopment of Yonge Street. It will allow us to put a
public face on the University by opening up the campus to Toronto's main
thoroughfare."
    "I wholeheartedly support Ryerson University acquiring the Yonge-Gould
corner," said Councillor Kyle Rae, whose ward includes the Ryerson precinct
and the corner. "It's the best thing possible for the revitalization of Yonge
Street and the downtown core. I will work with all parties to ensure that
Ryerson buys the property at fair market value and that the heritage
significance of Sam's is preserved."
    "Everyone at Ryerson has a profound respect for the important role Sam's
has played in Toronto," said Levy. "We understand the importance of the Sam
the Record Man legacy and will work with the city to honour it."
    Under the provincial Expropriations Act, universities can seek approval
to expropriate under specific circumstances in order to achieve academic and
community goals. Compensation for the property is determined either by
agreement of the parties, or by a formal process dictated by the
Expropriations Act.

    Ryerson University is Canada's leader in career-focused education,
offering more than 95 PhD, master's, and undergraduate programs in the Faculty
of Arts; the Faculty of Communication & Design; the Faculty of Community
Services; the Faculty of Engineering, Architecture and Science; and the Ted
Rogers School of Management. Ryerson University has graduate and undergraduate
enrolment of 24,000 students. With more than 64,000 registrations annually,
The G. Raymond Chang School of Continuing Education is Canada's leading
provider of university-based adult education.

For further information: Janet Mowat, Ryerson University, Tel: (416)
979-5000 Ext. 7002, Email: jmowat@ryerson.ca