George Brown College acquires new land on Toronto’s eastern waterfront
George Brown College has acquired a property in downtown Toronto that it will use to further develop its waterfront campus.
The college says the addition of 25 Dockside Drive will help create an expanded waterfront campus.
“The joint acquisition of 25 Dockside is a vital long-term investment and asset for George Brown College and partners in support of our students and their success in Ontario’s labour market, and in the economy of today and tomorrow,” said college president Dr. Gervan Fearon. “It will enable us to expand our academic offerings and fulfill our commitment to the development and education of our future leaders.”
The expansion of the waterfront campus to include 25 Dockside supports Waterfront Toronto and various efforts by the municipal, federal and provincial governments to revitalize Toronto’s eastern waterfront.
“Toronto’s east waterfront has grown dramatically over the past decade and it’s just getting started,” said Joe Cressy, senior vice president of external relations, communications, and real estate development at GBC. “By 2040, there will be an estimated 130,000 new residents and 50,000 new jobs along the waterfront. With our unique position on the waterfront, George Brown College is poised to be a foundational part of that growth.”
The joint acquisition was conducted between GBC and equity partner Halmont Properties. The transaction was conducted with H & R REIT which has owned the building since 2012. The transaction is expected to close in the spring.
The 480,000 square foot building at 25 Dockside Drive is currently home to Corus Entertainment, Irene Restaurant and Ecobee. Corus Entertainment will maintain its current long-term lease for the premises.
The college plans to gradually shift academic operations to 25 Dockside.
The purchase marks the latest in a series of development plans at George Brown College. In 2012, it opened the Daphne Cockwell Centre for Health Sciences. In 2019, it relocated its School of Design to the Daniels City of the Arts complex. In 2025, it will open Limberlost Place, Ontario’s largest institutional mass timber building and home to the School of Architectural Technology and the School of Computer Technology.