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OPG sells Toronto Kipling property for $200M

DCN-JOC News Services
OPG sells Toronto Kipling property for $200M

TORONTO — Ontario Power Generation Inc. (OPG) recently announced it has completed the sale of its Kipling site in Toronto’s Etobicoke community to Kinectrics and the City of Toronto. 

The sale closed Oct. 31 with a selling price of $200 million.

The City of Toronto will utilize the southern parcel of the property for the TTC’s future electric bus facility, a release stated. Another proposed use for the 76-acre site could be construction of a garage and maintenance facility for the TTC.

The TTC’s 2021-2035 Capital Investment Plan has identified the requirement for a new garage and maintenance facility within the next 10 to 15 years.

The site includes approximately 750,000 square feet of buildings. As part of the sale, the site has been severed to accommodate uses for both purchasers.

Kinectrics, an electricity life-cycle management company, will continue to operate its business at the site. 

The city will also take ownership of lands to the north of the Kinectrics parcel for future city services.

“The acquisition of the 800 Kipling Ave. site will serve as the city’s ongoing commitment to its wider climate action goals,” stated Mayor John Tory in a statement. “The future TTC electric bus facility aligns with the City’s TransformTO Net Zero Strategy and is an investment in the future of our city.”

The Kipling complex currently houses OPG offices, records storage and training spaces. OPG is consolidating all non-station-based staff at corporate headquarters in Durham Region.

OPG will lease back a portion of the space to accommodate employees until the new consolidated campus is ready for occupancy.

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