ONTARIO MaRS BAILOUT DECISION ''SMART''

Sep 23, 2014

By Bob Komsic

Share on

The province is bailing out the MaRS building for $309-million.

Mars-Phase-2-1

The purchase of the troubled tower across the street from Queen’s Park, includes the 224-million dollar loan to the MaRS research and development complex from the province three years ago.

GNM

Infrastructure Minister Brad Duguid says the ”decision was not taken lightly.  This is a smart thing … to do.”

Despite being touted as an innovation hub for new high-tech businesses, the building is mostly empty.

To fill in the rest of the tower it now owns, the province may move in bureaucrats.

Duguid says the government is not ruling anything out, including possibly re-selling the building down the road.

 

Join Our Fan Club
Coverage Area
Downtown Toronto
96.7FM
Toronto HD
96.3 HD-2
Kingston to Windsor, Parry Sound to Pittsburgh
AM740
ZoomerRadio Logo

Recently Played: