Contributing Lawyers

Canada

Cyndee Todgham Cherniak

United States

Susan Kohn Ross

Australia

Andrew Hudson



Toronto Mayor Proposes International Foreign Investment Opportunities

On September 29, 2008, Mayor David Miller unveiled a proposal to attract private investors from overseas to Toronto.  His proposal is to create two new arm's-length corporations for Toronto.  The new entities, to be called Build Toronto and Invest Toronto, would work allow foreign investors the opportunity to purchase or develop real estate in Toronto, Ontario, Canada.  The City of Toronto has a significant real estate holding worth over $18 billion with properties in prime locations.

Build Toronto will assume title of, or management authority over, all the city's land holdings, and determine which properties would be ripe for development, whether industrial, commercial or residential.

Invest Toronto would act as the marketing and promotion arm of the operation, conducting trade missions internationally to boost the city's reputation as a good place for business to invest. Miller said he hopes Build Toronto will help attract businesses the city has said are key to the local economy, including pharmaceuticals, "arts and thinking industries" and food manufacturing.

Toronto is open for business.  If you have any questions on how the Toronto plans may unfold or if you would like to benefit from the opportunities, please contact Cynde Todgham Cherniak (416-307-4168).

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