Toronto mayor open to sale of city real estate assets

Toronto

TORONTO'S mayor won't rule out selling some of the city's prime downtown real estate as he looks to make better use of assets amid an unprecedented property boom.

"Would I take that off the table? No, I wouldn't," Mayor John Tory said in an interview last week at Bloomberg's Toronto office. Selling buildings in the city's costly downtown market probably wouldn't be "quite as politically charged" as divesting other types of assets, such as the parking authority or power utility Toronto Hydro, he said.