Following the amalgamation of seven former school boards, the Toronto District School Board (TDSB) became the owner of the largest real estate portfolio in the City of Toronto.

Redevelopment, sales, management, and leasing of properties are specialized fields that are complex and time-consuming. In June 2007, the TDSB Trustees unanimously approved the development of a Shareholder’s Direction that would govern the relationship between the TDSB and its subsidiary, the Toronto Lands Corporation (TLC).

By creating a separate corporation to manage these capital assets, TDSB could establish a professional Board of Directors and recruit staff with expertise in property and asset management, management of capital projects, and the redevelopment and sale of commercial property.

In September 2007, TLC was appointed as an agent for the TDSB with the authority to manage an initial group of school board properties. On April 25, 2008, the TLC was incorporated under the Business Corporations Act of Ontario.

In the first five years of its operation, TLC’s mandate was to improve the quality of education for students in TDSB schools by maximizing value to the TDSB through the management and, where determined by the TDSB to be appropriate, the redevelopment and/or sale of properties no longer required by the school board.

The current Shareholder’s Direction, revised in November 2018 created significant change to the responsibilities of TLC by directing the corporation take responsibility for the full TDSB real estate portfolio through the strategic management and optimal use of TDSB realty assets.

TLC now effectively manages all TDSB’s real estate and property interests. This includes undertaking strategic opportunities for innovative redevelopment initiatives, engaging in community planning and partnerships, creating opportunities for community hubs, identifying site redevelopment projects and generating revenue for school improvements and other responsibilities as directed by the TDSB.