The city is reducing the amount of office space it uses by 25 per cent to save $750 million over the next 25 years, Mayor John Tory announced Wednesday morning.
“It is something in the 21st century we should do,” said Tory, adding that much of the office space was designed at a time when people used typewriters at the office.
The plan was a long time coming and was made possible by the creation of CreateTO, Tory said.
Previously, responsibility for real estate was scattered in various city departments.
“This will be done in a responsible way and will enhance front line service,” Tory said, adding that leases will be allowed to expire.
Offices including the TTC and TCH headquarters will be affected. Offices in some cases will be spread out geographically, allocating more jobs to locations including Scarborough and Etobicoke.
It will unlock eight properties for city building purposes, including affordable housing.
More later
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