Rogers and Brookfield Asset Management reportedly plan to demolish the Rogers Centre and construct a new ballpark in its place.
In a report from The Globe and Mail (via 680 News), sources say the massive development project would see a new natural grass baseball stadium built on the southern end of the current property while residential towers, office buildings, stores and public space would take up the northern section.
Further, the multi-billion dollar plan would be privately funded through Rogers and Brookfield, but the two companies are working with all three levels of government on the project.
Tons of regulatory hurdles to clear for this, primary among them is that Rogers owns the building only, not the land, which is leased from Canada Lands Company through 2088. It is zoned for stadium usage only.
— Shi Davidi (@ShiDavidi) November 27, 2020
In a tweet, Sportsnet baseball columnist and author Shi Davidi points out that there are multiple regulatory hurdles the companies would have to navigate, including that Rogers only owns the building and not the land it’s on. Instead, the land is leased from the Canada Lands Company through 2088, and it’s only zoned for stadium use.
“Prior to the pandemic, we were exploring options for the stadium but through this year our primary focus has been keeping our customers connected and employees safe, so there is no update on the Rogers Centre to share at this time,” Rogers said in a statement to 680 News.
According to The Globe and Mail, Rogers and Brookfield plan to go public with their plans in the new year.
Source: The Globe and Mail, 680 News