There is a big sale at the LCBO. No, it is not time to clear out space in your fridge and liquor cabinet.
After years of speculation, the provincial government is putting the Liquor Control Board of
Ontario's offices on Queen's Quay on the market. The LCBO warehouse and sprawling store on the site are on the block too.
Economic Development Minister Brad Duguid says "many developers" are interested in the four-hectare parcel of land and that healthy competition for it will help net the "highest and best price."
Duguid would not say how much the government hoped to get for the land. In 2012, then-finance minister Dwight Duncan estimated something north of $200-million.
The province is vowing to put the money it makes into a pot to fund infrastructure projects like road and bridge construction and public transit.
"This is a win-win situation for our province," Duguid said. "The infrastructure investments we can make with this sale will help expand Ontario's economy, improve our competitiveness, boost productivity, and create jobs".
Developers will have to provide a new LCBO head office and store.
Duguid hopes to have a sale finalized by next summer.