CYKZ (Toronto/Buttonville)

[H Christensen]

The Cadillac Fairview Corporation, Armadale and Toronto Airways have announced that the Toronto Buttonville Municipal Airport will continue in operation until at least the fall of 2016. The outlook for extensions beyond that date will be dictated by progress on political approvals.

[bizjets101]

Thanks for the update, appreciated rob

[smokescreen_wshh]

Thats great news!

[Hipster Exterminator]

The outlook for extensions beyond that date will be dictated by progress on political approvals.

Don't you mean the outlook for extensions beyond that date will be dictated by demand for slum housing by Russian and Chinese "investors"?

[YYZSaabGuy]

The outlook for extensions beyond that date will be dictated by progress on political approvals.

Don't you mean the outlook for extensions beyond that date will be dictated by demand for slum housing by Russian and Chinese "investors"?

Nope, I don't believe he did: http://business.financialpost.com/2014/ ... irst-time/:

"While Vancouver has been a flashpoint for the discussion, the survey found that downtown Montreal and Nun’s Island had a foreign ownership rate of 6.9% to lead the country. Vancouver’s Burrard Peninsula had 5.8% penetration, while in Toronto’s core it was 4.3%.

“With respect to location, the city core in Canada’s largest rental areas, Montreal, Toronto and Vancouver, experienced larger foreign condominium ownership,” said CMHC.

Overall, though, the condominium ownership rate in the 11 markets surveyed by CMHC did not go above the 2.4% for Toronto as a whole.

Toronto led the 11 markets surveyed by CMHC for foreign investment but Vancouver was not far behind with 2.3% of units held by residents. After those markets, Montreal was at 1.5%; Victoria at 1.1%; Ottawa at 0.7%; Quebec City at 0.6%; Saskatoon at 0.3%; Calgary at 0.2%; and Edmonton, Regina and Winnipeg at 0.1%."

[H Christensen]

My initial posting, brief as it was, was the bare bones of a news release issued Dec. 18 by Cadillac Fairview, Armadale and Toronto Airways. Here, for those who are interested, is the entire news release . . .

December 18, 2014 11:44 AM

Buttonville Airport to continue operations into late 2016

TORONTO, Dec. 18, 2014 /CNW/ - The Cadillac Fairview Corporation Limited (CF), Armadale Co. Limited ("Armadale") and Toronto Airways Inc. today announced that the Toronto Buttonville Municipal Airport ("Buttonville Airport") will continue in operation until at least fall 2016.

CF and Armadale, owners of the lands at Buttonville Airport, submitted an application to amend the Markham Official Plan in the fall of 2011. The application plans for the area becoming a world-class employment district and vibrant, mixed-use lifestyle destination that puts people at the forefront of urban planning. On May 2, 2013 Markham City Council approved in principle, the vision and master plan for the Buttonville Airport Development Area. Further approvals are required from the Region of York.

The application is currently before the Ontario Municipal Board. CF Armadale and Toronto Airways have extended the timeline for airport operations to continue until at least fall 2016. The outlook for extensions beyond this date will be dictated by progress on approvals.

About Buttonville Airport
Buttonville Airport is a multi-service general aviation airport operated by Toronto Airways Inc. offering a complete array of general aviation services including flight training, pilot supplies, local and visiting pilot services, based and visiting aircraft services, and hangar and office space for rent.

About Cadillac Fairview
The Cadillac Fairview Corporation Limited is one of North America's largest owners, operators and developers of commercial real estate. Cadillac Fairview focuses on developing and managing high quality office, retail and mixed-use properties in Canada and the United States, as well as international investments in real estate companies and investment funds.

With a portfolio valued at more than $25 billion, Cadillac Fairview and its affiliates own and manage nearly 43 million square feet of leasable space at 72 properties across North America, including some of Canada's landmark developments, such as Toronto-Dominion Centre, Toronto Eaton Centre, Pacific Centre and Chinook Centre.

Cadillac Fairview is wholly-owned by the Ontario Teachers' Pension Plan, which invests to secure the retirement income of 307,000 active and retired teachers in Ontario.

About Armadale
Armadale Co. Limited is a private, family owned real estate owner and developer headquartered in Markham. Armadale identifies opportunities to develop unrecognized, undeveloped or undervalued properties and participates operationally and financially either as consultants, owners or in joint ventures.

SOURCE Cadillac Fairview Corporation Limited

[Hipster Exterminator]

The outlook for extensions beyond that date will be dictated by progress on political approvals.

Don't you mean the outlook for extensions beyond that date will be dictated by demand for slum housing by Russian and Chinese "investors"?

Nope, I don't believe he did: http://business.financialpost.com/2014/ ... irst-time/:

"While Vancouver has been a flashpoint for the discussion, the survey found that downtown Montreal and Nun’s Island had a foreign ownership rate of 6.9% to lead the country. Vancouver’s Burrard Peninsula had 5.8% penetration, while in Toronto’s core it was 4.3%.

“With respect to location, the city core in Canada’s largest rental areas, Montreal, Toronto and Vancouver, experienced larger foreign condominium ownership,” said CMHC.

Overall, though, the condominium ownership rate in the 11 markets surveyed by CMHC did not go above the 2.4% for Toronto as a whole.

Toronto led the 11 markets surveyed by CMHC for foreign investment but Vancouver was not far behind with 2.3% of units held by residents. After those markets, Montreal was at 1.5%; Victoria at 1.1%; Ottawa at 0.7%; Quebec City at 0.6%; Saskatoon at 0.3%; Calgary at 0.2%; and Edmonton, Regina and Winnipeg at 0.1%."

I don't know about you guys, but I know I incorporated a numbered company when I bought my house, meanwhile it is only natural that those engaged in money laundering and major league tax evasion feel obligated to receive documents that would put them in jail at their home address in the Vaterland.

My brother-in-law is a property manager in Missisauga, he has to deal with this bullshit full time.

I will believe in Santa, the Easterbunny and Jesus Christ before I believe these developments are anything but safety deposit boxes with fabulous countertops and appliances.

[everythingiscavok]

Anyone know if the tower will continue to be there for the remainder too? Is there enough traffic to warrant it?