Hillier Questions Appraisal Value of MaRS

MPP Randy Hillier asked Minister Duguid how much less the MaRS appraisals should be considering the loss in leasing revenue between research space and standard office space. While the appraisal valued the building at $303 Million, the rates were based off of market value for research space, which MaRS cannot fill. However, renting the space to Government bureaucrats would be done at a substantially lower rate, diminishing the resale value of the building significantly.