INITIAL TASK

1. Review Current Approach to real estate decision making

2. Conduct high-level assessment of the national portfolio

3. Propose a strategic approach to managing property assets

CHALLENGES

• Lost opportunities and revenue

• Resources expended on bad projects

• Frustrated development partners

• Trustees can feel conflicted

• Loss of intellectual history

• No ability to redistribute wealth

• No mechanism to act strategically

Methodology

• Build up on UCC database of addresses

• Online Survey to solicit information on properties – fill the gaps

• Excel data base updated & geocoded

• Establish Criteria for Strategic Sites

• Triage of all sites

• “Drill down” on Strategic Sites

Inventory $2 Billion

Criteria

• Property Size

• Heritage attributes

• Character of adjacent built form

• Signs of recent intensification

• Compatible/incompatible adjacent uses

• Market context

• Economic & demographic context

• Planning policy framework

Strategic Value

• Strong market indicators ✓Housing price growth

✓Population growth

✓Job growth

✓Evidence of nearby investment

• Available land

• Not heritage

• Likely require planning intervention and/or additional research

215 Filtered Sites

Thornhill UC Site Area: +/- 2.83 Acres

Heritage Status: Not Listed or designated

Planning Policy context: Designated “Residential Low Rise”

Site Context: The subject site is surrounded by: • A Masonic Hall and detached dwellings

to the north; • A large woodlot area to the east; • Thornhill Secondary School to the

south • 7-storey apartments to the west

OPPORTUNITIES

Healthy growing market with high land values

Excellent neighbourhood

Adjacent school & close to Yonge St

High density across the street

Large parking lot could create development opportunities

Regular transit services

Large site

CHALLENGES

Irregular shaped lot complicates development

Planning context make taller development (mid or high-rise) challenging

Likely a need for ongoing parking

Even modest development is likely to receive tension from the community

Infill site with adjacent neighbours can raise community concerns

One Option

Next Steps

Memorandum of Understanding (MOU) – EDGE and TUC enter into memorandum of understanding to create a business plan for approval by the congregation.

Project Charter – EDGE and TUC will work together to develop a real estate plan that can support mission renewal and provide community benefit. The scope and objectives of the plan will be described in the Memorandum of Understanding (MOU).