Queen's Park plans to sell or lease back eight government buildings in a cost-cutting move to free up money for health care and education.
The move will impact three buildings in North Bay, Sudbury and Thunder Bay in a process the government says will be “open, fair and competitive.”
In March 23 release, the government said it also plans to reduce the amount of office space in Toronto. The province occupies 7.7 million square feet of space in Toronto in more than 100 buildings.
The real estate plan would shrink the provincial footprint in that city by one million square feet.
The government said the move could generate as much as $500 million in revenue, and generate a net savings of almost $300 million over the next 25 to 30 years.
Infrastructure and Transportation Minister Bob Chiarelli called it a “serious step” to eliminate the deficit. “By looking at new ways to manage our real estate, we have the potential to save hundreds of millions of dollars while protecting jobs and public services.”
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