Cadillac Fairview, along with Armadale Co. Limited and Torontoair Ltd. announced on Friday, April 27 that they would continue operations at the local airport until at least the spring of 2023 and possibly longer.
Cadillac Fairview and Armadale, who co-own the Buttonville lands, have applied for an application to rezone the lands for a 175-acre, $4-billion project that could create between 15,000 to 24,000 jobs and house 6,000 to 7,000 residents.
But the project has been stalled for several years at the Ontario Municipal Board, apparently over a disagreement over infrastructure fees developers would pay to the Region of York to widen roadways around the airport lands.
Anna Ng, a spokesperson for Cadillac Fairview, says negotiations continue over the development application at the OMB with the Region of York. She said the renewal of the airport licence, which was due to expire this October, was par for the course.