Dominion Building Acquired By CLC



    CHARLOTTETOWN, PEI, March 30 /CNW/ - Canada Lands Company (CLC) today
announced that it has completed its acquisition of the Dominion Building in
downtown Charlottetown from Public Works and Government Services Canada
(PWGSC).
    The building, which currently houses a number of federal government
departments has been declared surplus to the Government of Canada's real
estate needs. Existing federal tenants will be relocated commencing in
September 2007 to the new Jean Canfield Government of Canada building
currently being constructed in downtown Charlottetown. CLC is committed to
having a redevelopment strategy in place for the Dominion Building before the
departure of the remaining tenants in the spring of 2008.
    "The Dominion Building is an important part of Charlottetown's core
business area and we are determined that it will remain a vital part of the
city's downtown," said Ron Pachal, CLC General Manager, Real Estate, Atlantic.
"We look forward to working with local businesses and other stakeholders to
put together a redevelopment strategy that provides the best possible benefit
for the community and CLC."
    At the present time, CLC is working with the Greater Charlottetown Area
Chamber of Commerce Dominion Building Task Force, which has retained Collier's
International Realty Advisors to conduct a community needs assessment and
study potential redevelopment options for the Dominion Building. CLC will use
this information as part of its planning and consultation process to determine
the best options for the future of the building.

    CLC is a federal Crown corporation that optimizes the financial and
community value obtained from surplus properties no longer required by the
Government of Canada. The company is self-financing and implements innovative
property solutions to create strong and competitive communities wherever it
operates.


    /NOTE TO PHOTO EDITORS: A photo accompanying this release is available on
    the CNW Photo Network and archived at http://photos.newswire.ca.
    Additional archived images are also available on the CNW Photo Archive
    website at http://photos.newswire.ca. Images are free to accredited
    members of the media/




For further information:

For further information: Gordon McIvor, Vice President, Strategic
Acquisitions, Public and Government Affairs, Canada Lands Company, (416)
952-6111 or gmcivor@clc.ca; Ron Pachal, General Manager, Real Estate,
Atlantic, Canada Lands Company, (902) 426-5045 or rpachal@clc.ca

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Canada Lands Company

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