Posted October 14, 2018 07:01:55A proposed new home is currently under construction on a property in central Ontario, with one of the property owners saying the plan is the new home of the family.
The proposed development of the King’s Building material site at 2370 N. Broadway was announced by King’s Property Development Corp. on Wednesday.
It is owned by the Canadian Heritage Corporation, and includes a retail, office, residential and condominium development.
The property has a large footprint, covering almost 3,000 acres.
King’s is building a new, 10-storey condo tower, with the site being the new site of a previous project.
The company said the project would bring 1,000 jobs to the region and the company is currently seeking funding to begin construction.
“We’re excited to have a new project in the neighbourhood and to partner with the Canadian heritage corporation and a group of community partners to help bring jobs and economic benefits to the area,” said Robert Ladd, chief executive officer of the Canadian Cultural Property Development Corporation.
“The construction of this new project will help revitalize the surrounding community.”
Ladd said the company had been in contact with the Crown corporation since last year to discuss the plan, which could see the building site acquired by the Crown.
“The project has the support of the Crown Corporation, so the process will be handled by the company itself,” he said.
“It is important to note that the project has no financial impact to the Crown or any of the other parties involved.”
The Crown corporation has not yet made a decision on the project.
King’s Building, located in the heart of downtown Toronto, is the former home of Toronto General Hospital.
The hospital was built in the early 1800s and was renamed the King Edward Memorial Hospital in 1921.
The building’s original owners were the family of a former Ontario premier, William Lyon Mackenzie King.
The project was approved by the city of Toronto in December.