The Toronto Transit Commission and Build Toronto will be negotiating a complicated lease agreement for a new commission headquarters at York Mills Road and Yonge Street over the next month and a half.
That was the word from TTC commissioners after the second of two closed-door meetings Friday, Aug. 27 to give staff authority to effectively start the move from their current headquarters at 1900 Yonge St. at Davisville Avenue, to the new building at 4050 Yonge St. - on the northwest corner of Yonge and York Mills.According to TTC chair Adam Giambrone, the move will ultimately save taxpayers money. The building at 1900 Yonge St. is too old and too small for the TTC's needs, and will require substantial capital improvements to keep operating.The new site, owned by the city-controlled agency Build Toronto, will be home to a purpose-built structure that could include a new transit museum, that will cost $5 million.But that is the only figure that the TTC would release on Friday, and Giambrone made it clear that the transit museum is not necessarily connected to the headquarters, and will only go ahead if a private fundraising campaign over the next three years raises the necessary cash.