Ryerson University has acquired Sam the Record Man’s former location at the corner of Yonge and Gould Streets, and three additional properties in order to provide space for programs and services urgently needed by students, including more student study space, and an expanded Student Learning Centre.
Ryerson has purchased the Sam’s property directly from the Sniderman family, along with two additional properties the family owned on the Ryerson campus: a small office building at 110 Bond Street, and a parking lot on the west side of Church Street north of Dundas. The university has also acquired a fourth property at 351-353 Yonge St, a former Future Shop retail outlet adjacent to Sam’s. The total value of the four properties is $40 million.
Ryerson is in the midst of developing a Master Plan, a framework to revitalize the campus over the next 20 years and act as a catalyst for change and renewal in the surrounding neighbourhood. The acquisition of the former Sam’s and Future Shop properties gives Ryerson a gateway on Yonge Street and the opportunity to play a key role in redeveloping Toronto’s main thoroughfare and downtown core.
“At the Yonge-Gould corner, our first priority is to provide a state-of-the-art Student Learning Centre and student space,” said Sheldon Levy, president of Ryerson. The other two properties, the Church Street parking lot and 110 Bond Street, are strategic purchases that will provide Ryerson with much needed space and flexibility for the future.