Downtown casino, new convention centre could hit Toronto after $3-billion proposal

Oxford Properties Group upped the ante on Friday among Torontos casino suitors with details of a $3-billion plus proposal for a swath of downtown real estate next to the Rogers Centre that would see black jack tables among a new hotel, residential, office space and a redeveloped Metro Toronto Convention Centre.

The group hired Foster + Partners, the architects behind Abu Dhabis Masdar City Development, Washingtons Smithsonian Institute and Londons Canary Wharf Underground Station, to sketch out a master plan for Oxford Place, located on 11 acres on the south side of Front Street, between Simcoe Street and Blue Jay Way.

The plan, contingent on authorities giving a casino the go-ahead, includes a new and expanded convention centre, new retail, office and residential space, 4,000 new underground parking spots and an integrated casino and hotel complex. The casino would make up less than 10% of the project, Oxford said in a press release, and would be funded, built and operated by the casino operator selected by the provincial government, should it do so. The company is also contemplating a new 5.5 acre park over the existing rail corridor.

Although the casino itself represents less than 10% of the projects area, it is a necessary and essential catalyst for the entire development and is a use that will be complementary to Torontos core in the way that we have designed and conceived it, said Michael Kitt, Oxfords executive vice president in Canada, in a press release.

The Ontario Lottery and Gaming Corp. in March announced plans to build a new casino in greater Toronto, but says it will not put one in a city that does not want one. The issue has triggered considerable debate in Toronto, with people voicing their support and opposition at a public forum this week. Paul Godfrey, chairman of the OLG and also chief executive of Postmedia Network Inc., the parent company of the National Post, has said that downtown Toronto is OLGs first choice. Caesars, MGM Resorts, Las Vegas Sands Corp., Woodbine Entertainment and Onex Corp. have all expressed interest, with Caesars in particular saying it considers the Metro Toronto Convention Centre as the best site. MGM prefers Exhibition Place.

If the decision is made to have a casino in the City of Toronto, Oxford believes it can provide the best location and the ideal solution for all stakeholders, Blake Hutcheson, president and CEO of Oxford Properties, said in the press release. We have engaged an extraordinary team to develop the very best plan for this site and to transform this entertainment and commercial hub into a world class destination.

Oxford Properties The Oxford proposal.

The proposed location of the casino and hotel is on the western edge of the property. Renderings depict two hotel towers on that part of the land, with the casino at the base of one, and another two sky scrapers on the eastern side for commercial and residential. The company wants to phase construction of the new, state-of-the-art convention space before demolition begins. The expanded convention centre would result in over 22 acres of contiguous exhibit space, the press release said.

The company described its proposal as a well-conceived private sector solution that does not require public infrastructure or other funding.

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Downtown casino, new convention centre could hit Toronto after $3-billion proposal