NDP calls for independent appraisal of Hearn waterfront land

The NDP is calling for an independent appraisal on the R. L. Hearn Generating Station waterfront land before a sale goes through — a sale that appears to be an unbelievably sweet deal for a Doug Ford insider.

“Are Ontarians getting ripped off, here?” asked Toronto-Danforth MPP Peter Tabuns, who is also the NDP’s critic for Energy and Climate Change. “This looks like a deal that was cooked up in a back room, that helps a Ford insider at the expense of everyone else.”

The land is owned by crown corporation Ontario Power Generation (OPG), which announced the sale Thursday. The buyer is Studios of America, which has been the long-time tenant of the site. The price, according to a report in theToronto Star, is a mere $16 million for 16 hectares. Sale negotiations began over a year ago – but the sweet sale happened after Doug Ford took over the premier’s office. Studios of America’s president is Ford insider and long-time Ford family campaign donor and supporter, Mario Cortellucci.

“I want a fully independent appraisal of this property done and released publicly before a single dollar is allowed to change hands,” said Tabuns. “Something smells fishy here. People deserve answers.”

Tabuns said people deserve to know the market value of the land, pointing to the nearby former LCBO land that was sold for $260 million just two years ago. At 4.4 hectares, that land went for about $59 million a hectare — compared to $1 million a hectare for the OPG land. While the land the Hearn Generating Station sat on needs remediation from years of hosting a power generation station, Tabuns said it doesn’t seem reasonable that the cost of clean-up would lower the value of prime waterfront Port Lands property to just a tiny fraction of the cost of nearby land.

“Who negotiated this deal and how did they arrive at this price?” Tabuns asked.

“At this point, we need transparency on how this deal got done, and whether it was a decent deal for the people of Ontario.”