Tribunal awards $87.8 million for expropriated property, rejecting lease encumbrance deduction and screening out transit scheme.
The Claimant sought compensation for the expropriation of its property by Metrolinx for the Ontario Line transit project.
The Tribunal determined the highest and best use of the property was a high-density two-tower mixed-use development.
The Tribunal screened out the impact of the Ontario Line announcement under section 14(4)(b) of the Expropriations Act.
It rejected Metrolinx's argument for a lease encumbrance deduction due to the common control of the tenant and claimant.
The Tribunal accepted the Claimant's appraiser's market value of $187 per square foot, resulting in a gross value of $88,825,000, and applied a $1,000,000 deduction for environmental remediation costs, awarding a net amount of $87,825,000.
OLTOntario Land TribunalMay 28, 2025
