The acquisition is part of GBC’s long-term strategic expansion to provide more modern learning space for students, further solidifying our place as Ontario's urban college and an anchor in the growing East Bayfront community. It has been made possible thanks to an innovative joint acquisition with equity partner Halmont Properties. The transaction is expected to close in the spring of 2024.
"The joint acquisition of 25 Dockside is a vital long-term investment and asset for George Brown College and partners in support of our students and their success in Ontario's labour market, and in the economy of today and tomorrow. It will enable us to expand our academic and career-oriented program offerings and fulfill our commitment to the development and education of our future leaders," said Dr. Gervan Fearon, President of George Brown College.
GBC established our presence on Toronto's waterfront with the Daphne Cockwell Centre for Health Sciences opening in 2012. Then, in 2019, the School of Design moved into the Daniels Waterfront – City of the Arts complex. Our mass-timber net zero carbon emissions building, Limberlost Place, opens to students in January 2025. As a key player in revitalizing the East Bayfront neighbourhood, George Brown has long advocated for improving public transit in the area with the Waterfront East LRT — the City of Toronto recently approved $64 million in funding for the project design.
"Toronto's east waterfront has grown dramatically over the past decade and it's just getting started. By 2040, there will be an estimated 130,000 new residents and 50,000 new jobs along the waterfront. With our unique position on the waterfront, George Brown College is poised to be a foundational part of that growth, and a partner in addressing the long-term economic and social prosperity of Toronto, and Ontario," said Joe Cressy, George Brown's Senior Vice-President of External Relations, Communications, and Real Estate Development.
The college plans to gradually shift academic operations into 25 Dockside. The 480,000-square-foot state-of-the-art building is currently home to Corus Entertainment, Irene Restaurant and Ecobee. Corus Entertainment will continue to maintain its current long-term lease for the premises.
"George Brown College's acquisition of 25 Dockside is a part of our larger 2050 campus master plan to better support our students, and the focus here is on providing future academic space," said Michelle McCollum, George Brown's Vice-President of Facilities and Sustainability. "We are also continuing to work hard to create more student housing spaces through our housing task force."
Corus Quay, 25 Dockside Dr.
The Daphne Cockwell Centre for Health Sciences (51 Dockside Dr.) and Limberlost Place.
(Left to right): George Brown Board of Governors Member Roger Grochmal; Senior Vice-President, External Relations, Communications and Real Estate Development Joe Cressy; George Brown Board of Governors Chair Bruce Choy; Provost Dr. Cory Ross; President Dr. Gervan Fearon; Senior Vice-President People Enablement and Experience Leslie Quinlan; Vice-President Facilities and Sustainability Michelle McCollum; Chief of Staff, Office of the President, Mona Modaresi; Student Representative Ansh Jain; Senior Vice-President Institutional Planning and CFO Michael Herrera; General Legal Counsel Giselle Basanta.
25 and 51 Dockside Drive.