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May 21, 2004
Toronto City Council approves Union Station Revitalization Master Agreement with Union Pearson Group
  
The revitalization of Union Station got back on track today, as Toronto City
Council approved a revised Master Agreement to lease Union Station to Union
Pearson Group. This approval resolves an impasse from last April concerning
additional project costs attributed to delays.

"This is an important step forward for Toronto, both in terms of improving a
vital transportation hub, and in preserving an important heritage landmark,"
said Mayor David Miller. "With these issues resolved, the redevelopment of
Union Station will now be a huge boost to the overall renewal of the city."

Construction on the $130 million renovation of Union Station is projected to
begin in September 2005 and be completed over seven years. When work at Union
Station is complete Torontonians and visitors will see improved pedestrian
access to the Great Hall, and new shops, restaurants, and other exciting
features intended to make more effective use of this great public space.

Council also approved a public consultation process to be led by Mayor Miller
and Councillors Michael Walker, chair of the Administration Committee, Gerry
Altobello, chair of the Planning and Transportation Committee, and Pam
McConnell, whose Ward includes Union Station. This public consultation is part
of an independent review of the Union Station Master Plan, and will also
involve the Union Station Public Advisory Group, all levels of government,
transit operators, and other interested stakeholders.

The transaction with Union Pearson Group is conditional on the satisfactory
conclusion of the Master Plan review.

The City of Toronto and Union Pearson Group must still settle terms of a lease
for Union Station and other closing documentation required to complete this
transaction.

More information about the revitalization of Union Station is available at
http://www.toronto.ca/union_station.

Media contact:
Patricia Simpson
Union Station RFP Project Co-ordinator
416-392-8057



 

 

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