DEVELOPER BETTING ON CASINO FOR TORONTO

Oct 12, 2012

By Michael Kramer

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A major property developer is gambling on Toronto approving a casino.

Oxford Properties Group has announced plans for a three-billion-dollar development around the Metro Convention Centre – including a hotel-casino complex.

The plans will also see an expanded convention centre, along with significant new retail, office and residential space.

The plan depends on a casino being approved for Toronto. The convention centre is one of a number of locations Ontario Lottery and Gaming is looking at for a casino.

Oxford says the development will be fully funded by the private sector. It would be one of the largest urban redevelopment projects in North America.

It’s also contemplating a 5.5-acre urban park that would connect the core to the waterfront over the existing rail corridor.

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