Buying City Property

By law, we can only choose a buyer who meets all our requirements. We don’t list our properties with brokers or take offers. We have specific things we look for when selecting a buyer, including:

• price and proof of financing, and
• experience with development.

Current Requests for Proposals

We won't sell property that is undevelopable. We also don't sell property that's meant for public open spaces, like our urban wilds. We ask ourselves two main questions when we decide whether or not to sell City property:

1. Will the current real estate market support the development?
2. Does the local community want the property to be developed?  

We get the community involved when we’re ready to sell. Usually, this happens through public meetings and online through our building housing platform. Local residents help shape our requirements for the Requests for Proposals. Developers present their ideas to the community for feedback. 

Submitting a Request for Proposal doesn’t necessarily start the process. We make sure your plans meet the community's needs before moving forward.

• We won't sell property to buyers who want to hold onto the property and wait to develop when the market improves. You have to start developing within the time frame we give you. If you don’t, we either grant you an extension or take back the property.
• Sometimes, we'll sell property to use as open space or parking. The property will come with a covenant that protects it from further development.