WARDEN AVENUE 705 , ON Housing Now Mixed-Income Residential Lands Offering

Lake

WARDEN TTC STATION 705 WARDEN AVENUE

ST CLAIR AVENUE

WARDEN AVENUE

FAIRFAX CRESCENT

APPROVED ZONING AND DRAFT PLAN OF SUBDIVISION

NATIONAL INVESTMENT TEAM LAND SERVICES GROUP WARDEN AVENUE 705 TORONTO, ON UNION STATION Housing Now Mixed-Income Residential Lands Offering

THE OFFERING

CBRE Limited (“CBRE”) on behalf of CreateTO, as agent of City of Toronto (the “Owner” or the “City”) is pleased to offer this opportunity at 705 Warden Avenue, Toronto Public Library - WEST DON PARK LAN Toronto (the “Property” or “Site”). The Site is located along Warden Avenue, just north Dawes Road Branch of the intersection at St. Clair Avenue East in the Clairlea-Birchmount neighbourhood of Scarborough. The area is well serviced by high order transit, recreational activities and numerous parks and open spaces, including the Taylor Massey Creek directly adjacent to the Property, the Warden Woods ravine to the south and the Scarborough Bluffs, a short distance east of the Site. Regent Heights WEST DON PARK LAN Public School The Housing Now Initiative seeks to improve City-owned lands across Toronto through the development of new affordable housing within mixed use, mixed income, transit-oriented communities. A 99-year lease is being offered by the Owner to qualified parties, with ClairleaWEST DON Park PARK LAN Presbyterian Church the option of purchasing a portion of the Site to accommodate up to 100 condominium WESTTaylor DON PARK LAN units. Based on the in full force and effect Zoning By-Law, the Property is approved for Massey Creek up to 600 residential units, as well as retail density and community space (in the form of a child care centre), totaling approximately 505,904 sq. ft. (47,000 sq. m.) of GFA ProvidenceWEST DON Healthcare PARK LAN over three buildings. It is a requirement that a minimum of 250 rental units will be made affordable. WARDEN TTC STATION ST. CLAIR AVENUE EAST The Owner’s primary objective through this offering is to leverage the land value of 705 WARDEN AVENUE the Site in exchange for a mixed market and affordable purpose-built rental housing development with a high quality of design and integration of amenities, providing quality housing opportunities for future generations. The Owner’s requirements are detailed in WARDEN AVENUE the Confidential Information Memorandum (the “CIM”) which can be found in the online data room. The Owner has a strong interest in having not-for-profit housing providers involved in the development, either as the developer or as an operator of the affordable units. PROPERTY DETAILS WARDEN HILLTOP COMMUNITY CENTRE

St WESTClair DONRavine PARK Park LAN Site Area (acres)1 7.1 (2.66 net acres)

Existing Conditions Commuter Parking Lot

Projected Development 505,904 sq. ft. (47,000 sq. m.) Density (GFA)

Projected Building Heights 6 storey, 19 storey, and 18 storey buildings

Completed Approval Zoning By-Law Amendment, Plan of Process Subdivision

Required Approval Process2 Site Plan Approval APPROVED FOR PRIMARILY DEVELOPMENT SOFT PROXIMITY TO TRANSIT RESIDENTIAL DEVELOPMENT COST RELIEF AND AMENITIES

Primary Development Type3 Purpose-Built Rental The Property is being offered with City-initiated development The full extent of the City of Toronto’s Open Door Program will The Site is exceptionally well-located to the north of the Warden approvals for approximately 505,904 sq. ft. (47,000 sq. m.) be available for the affordable housing units. Benefits include TTC station at St. Clair Avenue East, and sits only 1.5km from Interest Offered Leasehold/Freehold of total density and up to 600 residential units. The Owner will relief from development charges, building permit fees, parkland East’s Golden Mile neighbourhood, featuring complete the land lease/conveyance transaction with Zoning and dedication fees and planning fees for the affordable rental 1.5 million sq. ft. of existing retail amenities, over 16,500 new 1Including the TTC Block Draft Plan of Subdivision approvals for development in place. units, in addition to property tax relief for the affordable rental residential units proposed and the future Crosstown LRT line 2Responsibility of the Proponent units for the duration of the lease. (under construction with expected completion in 2022). 3There is the potential for condominium ownership units to be built on the Site OFFERING PROCESS TRANSACTION & DEVELOPMENT REQUIREMENTS

This offering for the Housing Now Development Lands Category Detail Requirement is being marketed to interested parties through a two- Minimum Affordable Rental round offering process. Upon release of this flyer and Minimum 250 units. Confidentiality Agreement (CA), interested parties (the Component “Proponent”) are asked to execute the CA and return it to Minimum Market Rental Minimum 250 units. [email protected]. Proponents who have successfully Housing Component provided an executed CA will be invited to participate in the formal marketing of the Site commencing August 10, AMR will be established at the time of occupancy in accordance with 2020. As part of the bid submission, Proponents will be Definition of Average Market the amount published in the CMHC’s most recent publication of the required to satisfy a number of prerequisites related to Rent (AMR) Greater Toronto Area Rental Market Report for each unit type for experience in developing and managing large residential “Toronto (Zones 1-17)” where utilities are included in monthly rent. apartments, including a non-profit organization as part of their submission plan and demonstrating a financial plan Average rents across 90 per cent of the affordable units not to for the development and operation of the future building. exceed 80 per cent of the AMR for Toronto as determined by CMHC annually, with no individual unit rented at over 100 per Depth of Affordability (across cent AMR. Average rents across the remaining 10 per cent of the The round 1 bid submission date will be announced by all unit types) the Advisors in the coming weeks. affordable units not to exceed 40 per cent of the AMR for Toronto as determined by CMHC annually, with no individual unit rented at Note: The following table comprises a sample of the key over 100 per cent AMR. transaction and development requirements for the Housing Now Development Lands Initiative. The Confidential Term of Land Lease 99 years Information Memorandum for the Site should be reviewed for a comprehensive and exhaustive list of all requirements Term of Affordability Coterminous with land lease (99 years) related to this Offering. Condo Ownership Units Potential for a maximum of 100 condominium ownership units in Requirement this offering.

WARDEN AVENUE WARDEN TTC STATION

ST. CLAIR AVENUE EAST WARDEN AVENUE

MENDELSSOHN STREET

HOWE AVENUE

ADVISORS:

CBRE National Investment Team: Peter D. Senst* Casey T. Gallagher* Tristan Chart, CFA President Canadian Capital Markets Executive Vice President Sales Representative T +1 416 815 2355 T +1 416 815 2398 T +1 416 815 2343 [email protected] [email protected] [email protected]

CBRE Land Services Group: Mike Czestochowski** Lauren White* Emelie Rowe* Executive Vice President Senior Vice President Planner T +1 416 495 6257 T +1 416 495 6223 T +1 416 495 6306 [email protected] [email protected] [email protected]

*Sales Representative **Broker | All outlines are approximate. This disclaimer shall apply to CBRE Limited, Real Estate Brokerage, and to all other divisions of the Corporation; to include all employees and independent contractors (“CBRE”). The information set out herein, including, without limitation, any projections, images, opinions, assumptions and estimates obtained from third parties (the “Information”) has not been verified by CBRE, and CBRE does not represent, warrant or guarantee the accuracy, correctness and completeness of the Information. CBRE does not accept or assume any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from CBRE.CBRE and the CBRE logo are the service marks of CBRE Limited and/or its affiliated or related companies in other countries. All other marks displayed on this document are the property of their respective owners. All Rights Reserved. Mapping Sources: Canadian Mapping Services [email protected]; MapPoint, DMTI Spatial, Environics Analytics, Microsoft Bing, Google Earth 04/2020. CONFIDENTIALITY AGREEMENT – HOUSING NOW INITIATIVE

TO: CREATETO and CITY OF TORONTO (the “Client”)

FROM: (the “Undersigned”)

RE: Housing Now Initiative (the “Project”)

WHEREAS the Undersigned desires to pursue from time to time the leasing and/or purchasing of one or more properties (a “Property”) identified by the Client as being part of the City of Toronto’s Housing Now Initiative.

AND WHEREAS the Undersigned may from time to time choose to participate in market offering processes with respect to one or more Property(ies) offered as part of the Project.

AND WHEREAS the Client intends to disclose to the Undersigned various documents, materials and other information related to the Property(ies) and/or the Project, which information is highly confidential to the Client, for the purposes of evaluating, pursuing and potentially closing on one or more of the Property(ies) being offered by the Client (the “Permitted Purpose”).

NOW THEREFORE, for good and valuable consideration, including the disclosure by the Client of the Confidential Information, (the receipt and sufficiency of which is acknowledged), the Undersigned agrees and covenants with the Client as follows:

1. For the purposes of this Agreement, the following definitions will apply: a. “Client Persons” means (i) CreateTO, Build Toronto Inc. and any of its affiliates, City of Toronto Economic Development Corporation and any of its affiliates, and all of their officers, directors, shareholders, employees, representatives and agents, and (ii) the City of Toronto and each of its agencies, boards, corporations and commissions, and each of their councillors, directors, elected or appointed officials, officers, employees, representatives, and agents. b. “Confidential Information” means: i. information disclosed to or obtained by the Consultant in connection with the fulfilment of the Permitted Purpose or the terms of this Agreement; ii. all data, preliminary findings, and other material developed in pursuance of the Project; and iii. information of any kind which comes to the attention of the Undersigned in the course of carrying out the Permitted Purpose, whether from the Client or otherwise; whether disclosed to or obtained by the Undersigned prior to or after the date of or execution of this Agreement. Notwithstanding Section 1, Confidential Information does not include information known by the Undersigned prior hereto or obtained elsewhere other than through a breach of this Confidentiality Agreement. Nothing in this Confidentiality Agreement obligates The Client to disclose any Confidential Information to the Undersigned nor constitutes any warranty or representation as to the accuracy or otherwise of the Confidential Information. The Confidential Information and all copies thereof which are supplied to the Undersigned shall be held in trust by the Undersigned for the benefit of the Client. The Undersigned hereby specifically acknowledges that this Confidentiality Agreement shall in no way detract from or limit the power of the Client to carry on any other negotiations or otherwise deal with its Confidential Information in any manner [1] whatsoever. 2. The Undersigned shall maintain all Confidential Information in the strictest of confidence and shall not disclose any Confidential Information to a third party without the prior written consent of the Client (which consent may be withheld in its sole discretion). The Confidential Information is intended solely for and will be used by the undersigned solely for the Permitted Purpose. The Undersigned shall ensure that any employee, representative or agent of the Undersigned which is provided with any Confidential Information by the Undersigned (collectively, the “Team”) shall act as if bound to the Client by the terms of this Confidentiality Agreement, and the Undersigned shall be fully responsible for any breach of this Agreement by any of its Team members. 3. The Undersigned agrees that the Confidential Information is confidential, proprietary and the exclusive property of the Client and that the Client is the sole owner of all right, title and interest in the Confidential Information, and any and all goodwill arising therefrom. The Undersigned further agrees not to reproduce any Confidential Information received from the Client in whole or in part, nor to discuss or disclose any of the contents of such Confidential Information in whole or in part, to any person (save and except other members of the Team), without the written authorization of the Client. The Undersigned further agrees that it will not use or permit the Confidential Information to be used in any fashion or manner detrimental to the Client or in conflict in any way with the Client’s interest. 4. In the event that the Undersigned or its Representatives become legally compelled to disclose any of the Confidential Information, the existence of this Agreement or any of the terms hereof, the Undersigned will provide the Client with prompt notice thereof so that the Client may seek a protective order or other appropriate remedy or the Client may waive compliance with any specific provision or term of this Agreement. 5. On completion of the Permitted Purpose, the Undersigned shall return or destroy all Confidential Information in written form and destroy and delete from all electronic or other media and cause all others to destroy and delete from all electronic or other media all electronic or other versions thereof and all materials derived from or based upon all or any part of the Confidential Information including, without limitation, all extracts, summaries, drawings, working papers, analyses, reports, compilations, studies or interpretations. Notwithstanding the return of the Confidential Information, the Undersigned and its Representatives shall continue to be bound by their obligations hereunder until the termination of this Agreement in accordance with its terms. 6. The Undersigned hereby agrees to indemnify the Client Persons from any loss or expenses, liabilities, claims and demands which the Client Persons may suffer or incur as a result of the breach of the terms and conditions of this Confidentiality Agreement by the Undersigned or any Team member. This indemnification shall survive the termination of this Confidentiality Agreement and shall not detract in any way from any other right or remedy which the Client may have under this Confidentiality Agreement or otherwise in law or in equity. The Undersigned acknowledges and agrees that: a) all restrictions in this Confidentiality Agreement are reasonable and valid and all defences to the strict enforcement thereof by the Client are hereby waived; b) a violation of any of the provisions of this Confidentiality Agreement will result in immediate and irreparable harm and damage to the Client; and 7. in the event of any violation by the Undersigned of any provision of this Confidentiality Agreement, the Client shall, in addition to any other right to relief, be entitled to equitable relief by way of temporary or permanent injunction and to such other relief as any court of competent jurisdiction may deem just and proper.The Client reserves the right to make any changes, to add, delete, or modify the Confidential Information. Neither the Confidential Information nor this Confidentiality Agreement is to be construed as an offer, an expression of intent, an obligation, or as part of any

[2] contract or commitment, to enter into any agreement relating to the Permitted Purpose. 8. The Undersigned agrees that the terms, conditions and obligations of confidentiality under this Confidentiality Agreement shall continue until all of the Confidential Information enters the public domain, provided that the same is not in the public domain as a result of breach of this Confidentiality Agreement, and shall survive the completion, fulfillment, termination, or expiration of any aspect or matter related hereto, including the return, destruction and deletion of the Confidential Information as referred to above. This Confidentiality Agreement may not be modified or terminated, in whole or in part, except in writing signed by an authorized representative of each party. This Confidentiality Agreement may not be assigned. This Confidentiality Agreement is binding on the parties hereto and their respective successors. 9. The Undersigned acknowledges that the Municipal Freedom of Information and Protection of Privacy Act, R.S.O. 1990, Chapter M.56, as amended may apply to the Confidential Information. 10. This Confidentiality Agreement shall be governed by and enforced in accordance with the laws of the Province of Ontario and the laws of applicable therein. The Undersigned attorns to the non-exclusive jurisdiction of the courts of the Province of Ontario with respect to matters arising under this Confidentiality Agreement. 11. Notice may be given hereunder to the Client only by delivery, fax or e-mail in writing, addressed, to CreateTO, 200 King Street West, Suite 200, Toronto, Ontario, M5H 3T4, Attention: General Counsel, [email protected], Fax: 416-981-3800. 12. The invalidity or unenforceability of any part hereof shall not affect the validity or enforceability of any other part hereof. 13. This Agreement will terminate on the second anniversary of the date first written below. 14. This Agreement may be signed in counterparts and a facsimile or pdf copy shall be deemed to be as legally binding as an original copy.

DATED as of this day of , 2020.

[Name of Undersigned] (The “Undersigned”)

Per: Name: Title:

Per: Name: Title: I/We have authority to bind the Undersigned

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