Former provincial site clean and ready for redevelopment



    
    Sale to federal government completes rationalization of former MTO
    property on Tremblay Road
    

    TORONTO, Feb. 27 /CNW/ -

    NEWS

    The Ontario Realty Corporation (ORC) confirmed today that it has sold the
vacant site of the former Ministry of Transportation (MTO) Works Yard at 530
Tremblay Road in Ottawa to the federal government. Public Works and Government
Services Canada (PWGSC) was the successful bidder in an open and competitive
process that was overseen by ORC, and managed on its behalf by BMO Capital
Markets Real Estate Inc. and Cushman & Wakefield Lepage, leading commercial
real estate firms. The purchase price was $24.75 million.
    Office staff representing several provincial ministries relocated from
Tremblay Road, as part of a larger consolidation and co-location of 11
ministries into one efficient, effective, state-of-the-art facility at Preston
Square in Spring 2008.
    The decommissioning of the Tremblay Road site began with the demolition
of underutilized buildings while ministry tenants were still on site, and
continued with a full environmental clean-up to the Ministry of Environment's
highest standard once the site was vacant.

    QUOTES

    "The ORC is proud to have played a role in transforming the government's
real estate portfolio in Ottawa, while meeting government priorities and
ministry needs," said Dave Glass, President and Chief Executive Officer of the
Ontario Realty Corporation. "We've consolidated into less space, reduced our
environmental footprint and cleared the way for new development."
    "The government is committed to maximizing taxpayer value from its real
estate portfolio assets, while best serving public needs," said George
Smitherman, Ontario's Deputy Premier Minister of Energy and Infrastructure.
"The proceeds from the sale of this surplus property will be used to pay for
improvements to existing infrastructure and pay for new infrastructure that
supports growth, jobs and prosperity for Ontarians."
    "The Government of Canada is pleased with the acquisition of this
property," said Christian Paradis, Minister of Public Works and Government
Services Canada. "This is a great location, close to existing public transit.
It will help us take pressure off the downtown core and will play an important
role in our strategy for accommodating public servants in the National Capital
Region."

    
    QUICK FACTS

    -  The property at 530 Tremblay Road is a 29.6-acre parcel of land in a
       highly visible location along the Queensway, on the southwest corner
       of St. Laurent Boulevard and Tremblay Road. It had been occupied by
       MTO since 1959, until employees were relocated in 2008.

    -  In 2004, the City of Ottawa adopted a new Official Plan, and
       designated the property as "Employment Lands".

    -  On April 4, 2008 the government held a grand opening for the new
       Ontario Government offices at Preston Square. The co-location involved
       the consolidation of employees representing 11 ministries from seven
       previous locations in Ottawa. The state-of-the-art facility, owned by
       Sakto Corporation, was built to high energy and environmental
       specifications.
    

    LEARN MORE

    Learn more about the customer-focused real estate services provided to
the Ontario government by the Ontario Realty Corporation
(http://www.ontariorealty.ca/site3.aspx).





For further information:

For further information: Jeff Giffen, Ontario Realty Corporation, (705)
564-7205; Media Relations, Public Works and Government Services Canada, (819)
956-2315

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ONTARIO REALTY CORPORATION

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