CreateTO manages the City’s real estate portfolio, develops City buildings and lands for municipal purposes and delivers client-focused real estate solutions to City divisions, agencies and corporations.

Download the detailed Budget Analyst Notes for CreateTO. You can also review budget highlights below.

Toronto has more than 8,000 properties within its real estate portfolio. CreateTO, working together with Real Estate Services and Facilities Management, are continually looking for new and better ways to use those assets and bring value to the City (e.g. affordable housing, transit-oriented developments, new park space, and supporting City service delivery).

As part of the centralized City-wide Real Estate model, the Agency’s mandate is to be stewards of the City’s real estate assets, to drive a mandate focused on supporting programs, and to enable city-building. The Agency will leverage its real estate expertise to lead a City-wide real estate strategy, identify opportunities to modernize and harmonize operations, to drive service delivery for programs, and maximize real estate value in pursuit of social, economic, environmental, and program benefits.

Download the CreateTO Program Map to better understand the services and activities CreateTO delivers.

Operating Budget

The total cost to deliver these services to Toronto residents is $12.5 million gross.

Highlights

  • 0.0% Net Budget increase over the 2018 Approved Net Operating Budget to maintain existing Agency operations and meet additional service demands.
  • $0.965M in new funding for an increase to the complement of 5.0 positions to support expanding operational requirements of the Agency, including the CreateTO’s Portfolio Strategy and City-Wide Real Estate Strategy.
  • 2020/2021 increases for known inflationary adjustments primarily for salaries and benefits, and annualization costs of 2019 new additions.

Key Challenges

  • Operational Modernization: Integration of practices and asset management; process/business improvements; and enhanced services.
  • Data Management: Develop, access and leverage data to yield meaningful insights for improved decision making.
  • Financial Sustainability: Support the City in pursuing affordable housing, transit-oriented development, and other City-building projects, while maintaining operational sustainability.
  • Stakeholder Coordination: Engage and align partners and City programs (internal/inter-governmental) to effectively deliver municipal services and infrastructure.

Priority Actions

  • City-Wide Real Estate: continued build-out of the new real estate structure including continuing to centralize operations where appropriate.
  • Portfolio Strategy: An umbrella strategy that will identify clear approaches to maximize the portfolio; opportunities and priorities; and asset optimization plans. This will include an Office Optimization Strategy and Industrial Optimization Strategy.
  • Housing Now: Working in partnership with City Planning and the Affordable Housing Office, support development of 11 City-owned properties for mixed-income housing units.
  • Transit Oriented Development strategy: Identify opportunities for development around current and future transit stations in order to unlock land value, build transit ridership, create complete communities and advance affordable housing objectives.
  • Port Lands: actively manage the 400 acres of land prudently including leasing, supporting flood protection work and preparing for development.
  • Support a culture that embraces collaboration, a multi-disciplinary team approach and creative problem-solving.

Find more information on specific City issues, opportunities and challenges in the briefing notes and reports prepared by City staff. Documents will be posted as they become available.

Letter from the Chair of CreateTO on CreateTO 2019 Budget Request

Report from the Chief Financial Officer, CreateTO on CreateTO 2019 Budget Request

Presentations made to committee and City Council provide an overview of the 2019 City budget. Documents will be posted as they become available.