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.