Is the Region wasting taxpayer dollars by paying over $13 million for the 1635 Dundas property?
All municipalities in Ontario follow the same process for purchasing property. The total purchase price was $13.7 million. The Region retained a third-party licensed appraiser to assess the property before purchase and the property was purchased at fair market value in accordance with the Region’s process for property acquisition.
The Region is always looking for the most efficient and cost-effective way to provide services that the community needs. Purchasing an existing facility is more cost effective than building a new facility to support the community.
Currently, a new long-term care home is projected to cost about $160 million to build. While the long-term care home has more extensive requirements, the size is similar to the size of the 1635 Dundas building. The purchase of 1635 Dundas provides a great opportunity to address community needs at a significantly lower cost than a new build.