Canada Lands Company
| Formation | 1995 (reactivated) |
|---|---|
| Purpose | disposition of federal owned land and properties |
| Headquarters | 1 University Avenue, Toronto |
| Location |
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Region served | Canada |
Official language | English and French |
Chief Executive Officer | John McBain |
| Website |
www |
Canada Lands Company Limited (CLCL) is an arms length, self-financing Crown corporation reporting to the Parliament of Canada. The principal goal of the company's current policy mandate as determined by Cabinet is:
to ensure the commercially oriented, orderly disposition of surplus properties with optimal value to the Canadian taxpayer and the holding of certain properties.
The Company is the parent of three wholly owned, active subsidiaries: Canada Lands Company CLC Limited, Old Port of Montreal Inc., and Parc Downsview Park Inc. The latter two companies report directly to Parliament, rather than through CLCL.
The Company has a real estate portfolio totaling approximately 2,400 acres (953 hectares) in municipalities across Canada. The initial portfolio included many properties formerly controlled by the Canadian National Railway Company (CNR), which was privatized in 1995. This portfolio subsequently increased in size as Canada's Department of National Defence (DND) began closing military bases after the lessening of military tensions that followed the end of the Cold War. CLC purchased several former DND bases that were closed during this process, and it later began to redevelop them. CLC owns, and manages while it attempts to alienate, the CN Tower in Toronto. It is involved in several residential projects, in which it partners with a property developer to build and sell houses to individuals.
John McBain is the President and Chief Executive Officer.