top of page

Metrolinx to expropriate subterranean rights below 244 Queen Street East

Jesse Davidson

Sherbourne Station on the Ontario Line to be located on the same block as our building at 244 Queen Street East.
Sherbourne Station on the Ontario Line to be located on the same block as our building at 244 Queen Street East.


We have recently learned that Metrolinx intends to expropriate some subterranean rights deep under our building at 244 Queen Street East for the construction of the Ontario Line.  They also intend to locate the Sherbourne station on the same block as our property.


We have retained expropriation counsel to act for us through this process.  The land being expropriated for the tunnel is 20 meters below grade and not expected to interfere with a future redevelopment of our site.  However, there will be additional regulatory and engineering costs encountered when building above the tunnel and we expect to be fully compensated for these costs in addition to the appraised value for the subterranean rights.  The pre-expropriation offer from Metrolinx was for a market value of $15,000 plus a $16,000 bonus for signing within 30 days.  On the advice of counsel, we rejected that offer as we believe our compensation through expropriation will substantially exceed that amount. All legal and consulting fees incurred to bolster our opinion of value will be reimbursed by the expropriator. There are substantial ancillary benefits to us as it helps us to fund the exploration of the future redevelopment potential of the block. It is also helping us connect with the neighbouring property owners which hopefully will help to facilitate a land assembly on the block in the near future. 


The expropriation process is expected to commence later this year and conclude at some point in 2025-26. 


We are currently exploring the redevelopment potential of the site with architects and planning consultants and expect to have a better understanding of the possibilities in the coming months. 

Comentarios


Los comentarios se han desactivado.
Copyright © 2024 by Skye Capital Partners Ltd. All rights reserved.
bottom of page