Aurora buys 'strategic' $7.5M Yonge Street property for Library Square project

Councillor opposed to purchase will push town to release additional information

Yorkregion.com
August 7, 2020

Aurora has paid $7.5 million to buy property as part of the Library Square project.

“I am pleased to announce the town has purchased the property at the southeast corner of Yonge and Mosley (streets) to complete the block of properties known as Library Square,” Mayor Tom Mrakas said in a statement.

“This property has long been a strategic piece of the overall revitalization of our downtown core and this council has finally been able to complete this purchase. Council approved the conditional sale in June 2019 but due to COVID-19, it is just being finalized.”

The property is a key piece of the town’s plans for the $51.6 million project, Mrakas said.

“Council is poised to award the contract for Library Square and by owning this property, it ensures the town will be able to redevelop this property in a way that complements our heritage character and maintains our height restriction. This purchase also allows us to address some of the issues in the area from housing to parking.”

A document on the sale of the property from the land registry office shows the site at 15171 Yonge St. was sold for $7.5 million.

Coun. John Gallo, who opposed the purchase, intends to push the town to release more information about the sale when council meets next in August or September.

“There is information there that I think is of value to the public. Whenever we are purchasing property, the public should know why we’re purchasing it and the details around the purchase, not just the price,” he said.

“I didn’t vote for it for very specific reasons but I can’t say unless that document is public.”

While Gallo said he supports the arts, he doesn’t feel a proper needs analysis on the project has been done and he’s concerned about the cost of the project during the uncertainty of the COVID-19 pandemic, especially if the federal and provincial governments don’t provide $30 million in hoped-for funding.