TORONTO, April 9, 2013 /CNW/ - First Capital Realty Inc. (TSX:FCR) today released a video to highlight its position on why a casino does not belong at Toronto's Exhibition Place.
"We are opposed to a casino at Exhibition Place because casinos do not belong in neighbourhoods," said Dori J. Segal, President and Chief Executive Officer. "Our video speaks for itself."
First Capital Realty believes that a casino at Exhibition Place will negatively impact the growing neighbourhoods right next door, where 70,000 people live and 15,000 people work, namely Liberty Village, King West, West Queen West, Fort York and Parkdale. Contrary to claims by operators, casinos do not foster any relationships with adjoining communities beyond their controlled borders; rather, casinos are designed to pull people indoors and keep them gambling as long as possible. A casino will seriously impair the value of surrounding properties and businesses, and significantly undermine revenues and taxes they generate. A casino at Exhibition Place will put a stop to all the development in the surrounding area.
Exhibition Place is an extraordinary public space - 192 acres where Torontonians of all ages enjoy parklands, recreation areas, attractions and our waterfront. Toronto is perceived to have one of the most successful downtowns in North America and First Capital Realty is fully supportive of the regeneration of Exhibition Place in a world-class manner.
"A great city has much better uses for its waterfronts and parklands," added Segal. "Torontonians must not gamble away the immense potential of Exhibition Place. Our city can do better. Our city should do better. The residents of Toronto deserve better."
To view our video, please click: www.firstcapitalrealty.ca/no_casino_in_our_neighbourhood/
ABOUT FIRST CAPITAL REALTY (TSX: FCR)
First Capital Realty is Canada's leading owner, developer and operator of supermarket and drugstore anchored neighbourhood and community shopping centres, located predominantly in growing urban markets. The Company has investments valued at over $3 billion in the Greater Toronto Area and is the largest landowner in Liberty Village.
Video with caption: "Casino debate continues: First Capital Realty has released a video against a casino at Exhibition Place #TOpoli". Video available at: http://www.youtube.com/watch?feature=player_embedded&v=2InwNk3ov-Q
SOURCE: First Capital Realty Inc.
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