Local2.ca confirms reports that the Provincial Government is selling the office complex at 70 Foster Drive.
The Government issued this release:
Ontario is selling 70 Foster Drive, also known as Roberta Bondar Place, in Sault Ste. Marie to free up valuable taxpayer dollars for what matters most to Ontario families – health care and education.
The proposed sale is part of the province’s Realty Transformation Strategy, which involves selling and leasing back government buildings to generate revenue that will help eliminate the deficit while protecting local jobs and ensuring services remain strong, accessible and in Sault Ste. Marie.
“As we work to eliminate the deficit and get better value for taxpayers’ money, we’re getting out of the businesses government shouldn’t be in, like owning and operating office buildings. Our plan will also ensure government services remain strong in Sault Ste. Marie and across the province.” said, Bob Chiarelli, Minister of Infrastructure
In addition to 70 Foster Drive, Ontario has proposed to sell and leaseback eight other government buildings across the province through an open, fair and competitive process that ensures the best value for Ontarians.
Moving away from owning and managing office buildings is part of the McGuinty government’s plan to focus on investing in what matters most to Ontarians.
Quick Facts
The proposed sale and leaseback of the nine buildings which could generate upwards of $500 million in revenue and additional net savings of almost $300 million over the next 25 to 30 years.
Staff from the ministries of Children and Youth Services, Community and Social Services, Community Safety and Correctional Services, Citizenship and Immigration, Labour, Natural Resources, Northern Development and Mines, Transportation, and the Ontario Lottery and Gaming Corporation work at 70 Foster Drive.
The building was named after Roberta Bondar, Canada’s first female astronaut. It was built in 1991 and has about 265,000 square feet of rentable space.
Previous Coverage
Is the largest office building in Sault Ste. Marie up for sale? That is what local2.ca has been hearing Tuesday morning.
The massive office complex that houses the Ontario Lottery and Gaming Corp., a crown corporation of the Ontario Provincial government and the Northern Headquarters and Fire Control Centre of the Ministry of Natural resources, the Northern Forensic Laboratories as well as general services such as food services and daycare could be listed for sale today by the Ontario Government.
The building is approximately 36,000 square meters and was completed in 1992 at a final cost of $51.2 million. The building was named after Roberta Bondar, Canada’s first woman astronaut and former resident of the Sault.
Construction of the office building began in the late 1980’s with a budget of about $55 million.
It has become a jewel of the downtown waterfront revitalization plan adopted by the city that lead to other projects such as the Bondar Pavilion and Park Marina.
Local2.ca is trying to confirm the news of the sale and will update this story when and if information becomes available.
In 2012, the Ontario Government announced a “modernization plan” for the OLG.