Hello world!

Mr. Penney has acted on behalf of claimants and expropriating authorities in determining compensation resulting from real property expropriation for public infrastructure improvements (partial and complete takings). Examples include:
various takings for the Eglinton Crosstown LRT (Claimants), VIVA Transit improvements along Davis Drive and Yonge Street, in the Town of Newmarket (Claimants); Subway extension (City of Toronto); and school sites (Toronto Catholic District School Board).

Various Mixed-Use Condominium Development Sites: Estimated the market value of numerous medium and high density residential (condo) development sites throughout the City of Toronto for the purpose of determining the appropriate cash-in-lieu of parkland payment. Clients include: City of Toronto, Menkes Development Corporation, Tridel Development Corporation, ONNI Group, Liberty Development Corporation, Concert Properties, Edilcan Development Corporation, Sorbara Group, Lamb Development Corporation, and Del-Ridge Homes.

Provided below is a summary of the cash-in-lieu of parkland appraisals completed in recent years:

• Harbour Street, on behalf of Menkes Development Corp., August 2016
• 593 Yonge Street, on behalf of the City of Toronto, December 2016
• 604 Richmond Street W., on behalf of Lamb Development Corp., In progress
• 1884 Queen Street West, on behalf of Fieldgate Homes, In progress
• 355 Church Street, on behalf of the City of Toronto, June 2015
• 9 Fairmeadow Avenue, on behalf of Sorbara Group of Companies, Aug. 2015
• 2 Holiday Drive, on behalf of the City of Toronto, September 2014
• 365 Church Street, on behalf of Menkes Development Corp., April 2016
• 18 Graydon Hall Drive, on behalf of Tridel Development Corp., March 2014
• 3600 Lake Shore Blvd. W, on behalf of the City of Toronto, May 2014
• 55-76 Forest Manor Road, on behald of Elad Canada Inc., September 2015
• 250-256 Royal York Road, on behalf of Icon Homes, July 2015
• 5 St. Joseph Street, on behalf of the City of Toronto, October 2013
• 55 Antibes Road, on behalf of Menkes Development Corp., October 2013
• 1 Valhalla Inn Road, on behalf of Edilcan Development Corp., October 2013
• 46 Wellesley Street, on behalf of the City of Toronto, March 2014
• 2200 Lake Shore Blvd. W, on behalf of ONNI Development Corp., June 2013
• 2150 Lawrence Avenue E, on behalf of the City of Toronto, June 2013
• 164 Avenue Road, on behalf of the City of Toronto, February 2012
• 224 King Street West, on behalf of Lamb Development Corp., June 2013
• 1900 Bayview Avenue, on behalf of Tridel Development Corp., August 2012

Various Residential Condominium Development Sites: Valuation of high density residential condominium development sites for the purpose of determining the appropriate Section 37 payment and the market value of ‘bonus density’ to be acquired from the City of Toronto (per the North York Centre Secondary Plan). Clients include: Menkes Developments, Sorbara Group, Pinnacle Development Corporation, Great Gulf Development Corp.

• 2 Bloor Street East, Toronto: Estimated the fair market (ground) rent for the demised lands underpinning the Hudson’s Bay Centre under a new retail development concept, for the second term (26 Years) of the ground lease from the City of Toronto (December 1st, 2011 to November 30th, 2037).
• 221 Yonge Street, Toronto: Estimated the fair market (ground) rent for a small corner site at the intersection of Yonge and Shuter Streets according to the site’s highest and best use (mid-rise development) and existing use/development.
• 400 Walmer Road, Toronto: Estimated the fair market (ground) rent for a large high density residential development site in Forest Hill according to condominium development and rental apartment development. Consideration was also given to the value of the leased fee interest over the remaining term of the ground lease. Three days of expert testimony and related participation provided during the eight week arbitration hearing.