The Ontario government has completed the sale of a property in downtown Toronto announced last April, when Infrastructure Ontario stated:

"Canadian Real Estate Investment Trust (CREIT) and Greenwin Inc. are the successful purchaser for 27 Grosvenor / 26 Grenville. This site will be turned into a family-friendly mixed income community, with approximately 700 rental units, retail space and a daycare."

The land is between Bay Street and Yonge Street in a Toronto neighbourhood that is steps away from transit, restaurants and businesses, and medical facilities. The properties are currently a low-rise parking garage and a building that once housed the Ontario Chief Coroner's office, first considered for re-development in 2012.

Sold for $36 million, the revenue will help fund critical government programs, while saving $260,000 each year in operating and maintenance costs.

Greenwin Incorporated and Choice Properties will re-develop the land that will include a minimum of 700 rental units, of which 30 per cent - over 200 units - will be for affordable housing.

source: media release