Canada Lands Company, CN Tower & Millennium Place, Toronto, Ontario.
The CN Tower, which is the world's tallest free-standing structure, is considered to be one of the seven wonders of the modern world. It attracts 2.1 million visitors per year. The project is directly connected to Toronto's main cross-Canada and commuter railway station as well as Toronto's main subway station. Adjacent to the tower to the west is another international landmark Toronto's SkyDome, which attracts 5 million visitors annually. Adjacent to the east is Toronto's Convention Centre with a further 2.1 visitors per year and the recently completed hockey and basketball mecca The Air Canada Centre (replacing the Maple Leaf Gardens). At the time of our study the CN Tower offered a small selection of entertainment attractions, retail and food & beverage at its base. However given the large number of annual visitations in the area Canada Lands (a federal crown corporation) felt that the property was not maximising its potential and decided to retain Talbot Consultants International Inc. to conduct a detailed market analysis and feasibility study in order to determine the highest and best use. Our recommendation was for a 500,000 sq. ft. Entertainment Focused Centre (EFC) that would appeal to not only the tourists but the residents of Toronto by featuring "leading edge" entertainment attractions, theme restaurants and destination retailers. The project was subsequently re-structured as a public-private partnership between Canada Lands and Trizec Hahn Corporation with Canada Lands retaining the rights to the land in perpetuity. Our recommendations are currently being implemented by Trizec Hahn who committed an initial investment of $30 million and have committed a further $100 million over the next five years.
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