The University of Toronto (U of T) and the Royal Ontario Museum (ROM) announced today that they have reached an agreement for the University to purchase the property at 90 Queen’s Park from the ROM. This is a landmark agreement between two public institutions at the centre of Toronto’s cultural and educational district.
The purchase of 90 Queen’s Park will provide the University with a development site in the heart of the St. George campus. The purchase agreement also ensures that the property will continue to be used for institutional purposes. The site had been used as the McLaughlin Planetarium from 1968-1995.
Currently the Museum uses the facility for office space and collections storage and has maintained a presence since the property was transferred to the ROM by U of T in 1967. Under the agreement the ROM will continue to occupy the premises until development takes place. The ROM will have the option to lease significant space in any future development.
“This is a win-win-win for the U of T, the ROM and the public,” said David Naylor, President of the University. “This acquisition will deliver long-term benefits to our students and our community and provide much-needed room for expansion of U of T’s academic facilities. We are very pleased to have been able to work with the ROM on this historic purchase.”
“The redevelopment of 90 Queen’s Park has been an essential element of our Renaissance ROM strategy from the beginning,” said ROM Board of Trustees Chair, Sal Badali. “This sale supports the capital goals of Renaissance ROM, provides the opportunity to meet our future space needs and, importantly, allows the property to remain institutional in use – a wish of the community that will be well-served by development on this site by the University of Toronto.”
The University will begin developing a plan for the academic use of the site. Future use will ensure that development of the site will improve its relation to surrounding amenities that will benefit the community.
The sale, for $22 million, has been approved by the governing bodies of both institutions and is subject to the fulfillment of a number of conditions prior to closing, including consent from the City of Toronto for severance of the land.