Provincial Realty Agency To Close
Posted January 25, 2011 8:14 am.
This article is more than 5 years old.
The Canadian Press has learned that the Ontario Realty Corporation will disappear under the McGuinty government’s austerity program.
A source says it will be merged with Infrastructure Ontario.
The agency manages one of Canada’s largest real estate portfolios, with 6400 buildings and 50 million square feet of space. Infrastructure Ontario oversees the renewal of the province’s hospitals, courthouses, water systems, roads, bridges and other public assets.
Finance Minister Dwight Duncan will announce the merger of the two agencies Tuesday afternoon.
Duncan earlier said the government plans to eliminate about a dozen of the 259 provincial agencies.
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