Maple Leaf Square Media Summary

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$350M Toronto hotel complex to complement Air Canada Centre
The Ottawa Citizen
Wednesday, April 20, 2005
Page: D6
Section: Business

Byline: Tara Perkins, Source: The Canadian Press
Page: D6, Edition: Final
The Ottawa Citizen - Wed, Apr 20, 2005 - 564 words
Ad Value: $3,090.96 Exposure: 136,669
Sentiment: 16      / 0



TORONTO - Toronto's reviving tourism industry got another major vote of confidence yesterday with
the announcement of Maple Leaf Square, a $350-million hotel, condominium, shopping and
entertainment complex to be built near the home of hockey's Toronto Maple Leafs.

The consortium behind Maple Leaf Square -- sports team owner Maple Leaf Sports & Entertainment
Ltd., real estate firm Cadillac Fairview Corp. Ltd. and developer Lanterra Developments -- said the
complex adjacent to the Air Canada Centre will help put Toronto on a par with New York and Los
Angeles and will encourage more people to visit the city's waterfront.

The project was announced a week after the Ritz-Carlton Hotel Co. revealed it's building a 53-storey
luxury hotel and condominium complex in downtown Toronto for $300 million.

John Sullivan, senior vice-president of Ontario Teachers' Pension Plan subsidiary Cadillac Fairview,
said studies show there has been a significant lack of new hotels in Toronto.

But a four-year decline in visitors has reversed, Tourism Toronto said this week. Estimates for last year
suggest about 18 million visitors came to the city, spending $3.9 billion, up from 17.2 million visitors in
2003, said spokesman Chris Winsor. And occupancy at Toronto hotels spiked by more than 25 per
cent during the year, he said.

Maple Leaf CEO Richard Peddie said yesterday the "development creates a larger significant stage
that will attract major sports and world events to Toronto and at the same time support tourism and
economic growth."

Larry Tanenbaum, chairman of Maple Leaf Sports & Entertainment, billed the complex "Toronto's
newest must-see, must-play, must-stay, sports-and-entertainment destination."

The project will create about 500 jobs once completed. It will also create 1,700 construction jobs after
the groundbreaking, scheduled for next spring. The project aims to be finished in 2009.

The yet-to-be-named 171-room boutique hotel in the complex intends to cater to sports fans on
weekends and business travellers Monday through Thursday and will take advantage of cross-
marketing opportunities such as luring hotel guests with tickets to a sold-out game, Mr. Sullivan said.

Mr. Peddie said Toronto is recovering from the plunge in visitors following the SARS outbreak in 2003
and the NHL lockout will not be an impairment.

"You don't build a hotel for just one point in time. You build it for a long-term investment," he said.
Maple Leaf Square will also include two condominium towers, a music club, office space, restaurants,
a high-definition broadcast studio, and a 170,000- square-foot retail area. The complex will be
arranged around a public square between Bay and York Streets. A walkway will link it to the Air
Canada Centre.

The condominium towers will stretch more than 40 storeys high with about 900 units. One of the
restaurants will offer fine dining, the other will be a high-tech sports bar, with booths featuring personal
TV screens. The Music Club will be a 2,000-seat concert hall and host live broadcasts of Leafs and
Toronto Raptors games for fans who can't get tickets.

Maple Leaf Sports & Entertainment is the private company that owns the Air Canada Centre, the
Maple Leafs, the Raptors, the Toronto Marlies Hockey Club, Leafs TV and Raptors NBA TV.

Cadillac Fairview Corp. oversees about 52 million square feet of property, half dedicated to Canadian
retail, including the Toronto Eaton Centre. Lanterra Developments has developed a portfolio of
residential projects in Toronto, including the Toy Factory lofts and Water Park City.




ENTERTAINMENT COMPLEX: CONSTRUCTION Air Canada Centre to get a
companion Square next to Maple Leafs' home will let more fans on the outside look in
By JAMES RUSK

Wednesday, April 20, 2005 Page S1

If you are one of the thousands who would like to go to a Toronto Maple Leaf game but
can't score -- or afford -- a ticket, the team has found a new way of getting you down to
the Air Canada Centre to see the Leafs, and to get money out of your pocket when you
get there.

Maple Leaf Sports and Entertainment Ltd., the team's owner, announced yesterday that,
with two major business partners, it will build a new $350-million complex, to be called
Maple Leaf Square, on a parking lot just west of the ACC. It is to be connected to the
arena by a glass-covered, climate-controlled bridge.

"People want to be where people are," said Ian Clarke, the executive vice-president and
chief financial officer of MLSE.

With a top, prelockout ticket price of $250 in the 2003-2004 season, a lot of people
haven't been able to afford to take a family to a Leaf game, even if they could find a
ticket.


And in a hockey-mad town, Clarke, who is also in charge of business development for
MLSE, said that the company is counting on the success of the Leafs, its basketball team,
the Toronto Raptors, and the ACC to attract fans to the new complex.
While it won't be exactly like lining up for a cheap chance to stand behind the grays in
the old days at Maple Leaf Gardens, fans will have three ways of seeing a Leafs or
Raptors game at the new venue.

They can watch it live on huge, high-tech screens, one of which will be on the wall of the
ACC, from the public square, from one of more than 600 seats in a new high-tech sports
bar, or at one of 2,000 seats in what MLSE calls its music club.

MLSE plans to book music acts into the music club -- a space that will have a dance
floor, and flexible seating on three levels. Clarke also said that, while the details have yet
to be worked out as the new complex does not open until 2009, the team can show games
there on a high-tech screen.

The music club "will also be the place to be for Leafs and Raptors fans who want to be
part of the atmosphere, but can't be at the game," the announcement said.

And while at the Square, MLSE hopes that fans will go into its new retail store.

It will be a 9,000-square-foot shopping complex that will consist of four stores --
Leafsport, Raptorsport, Her Team and Lil'Team -- that will provide "the ultimate
interactive shopping experience with exclusive Leafs, Raptors and Marlies clothing
lines."

(The Marlies are the Maple Leafs' American Hockey League farm team.)

The Maple Leaf Square will have three parts -- a half-acre outdoor square, a 400,000-
square-foot, eight-storey mall to be developed by Cadillac Fairview Corp. Ltd. and 900
condos in two towers, one 44 storeys, one 40 storeys that Lanterra Developments will
build.

Beside the music hall, the mall will have a 171-room, sports-themed boutique hotel, the
music club, sports bar, an upscale restaurant, 170,000 square feet of retail space,
including the MLSE store, 50,000 square feet of office space, and a high-definition
broadcast studio that will look out over the square and be used by Leafs TV and Raptors
NBA TV.

Larry Tanenbaum, chairman of MLSE, described the complex as "Toronto's newest
sports and entertainment destination" that will be "Toronto's newest must-see, must-play,
must-stay sports and entertainment destination."

But underneath the hype is a harder business reality.There are fan dollars out there that
MLSE does not get because ticket prices are too high and the games are sold out.

MLSE CEO Richard Peddie said in statement that "MLSE has challenged itself to
increase our enterprise value in a way that extends the reach of our brands."
He told the press conference that in planning the square, MLSE had studied the newest
trends in entertainment hospitality and technology as it tried to come up with a new
destination.

"All of this sports entertainment programming will be designed in such a creative and
unique fashion that each piece will be a destination in its own right," Peddie said at the
press conference.

"With Maple Leaf Square increasing our entertainment footprint, the selling proposition
we can put forward to other events, like the NBA all-star game, increases the probability
of Toronto being chosen to host these events."

MLSE is not the only sports organization playing this game.

The owners of the Staples Center in Los Angeles are developing L.A. Live, a 4,000,000-
square-foot development.


That complex will include a 7,000-seat theatre, a 1,200-room convention hotel, along
with entertainment, restaurant, residential, office and commercial space next to the arena.



ACC hotel complex planned; Maple Leaf Sports said to be builder Restaurant
would have sports theme
The Toronto Star
Saturday, February 5, 2005
Page: D1
Section: Business
Byline: Rick Westhead
Source: Toronto Star

Maple Leaf Sports & Entertainment Ltd., the parent company of the Toronto Maple Leafs
and Raptors, is in talks to build a major hotel complex steps from the Air Canada Centre
that would feature a glitzy sports-themed restaurant.

The sports holding company's eight-member board has already given approval to proceed
with the project, according to a person familiar with the matter.

It's believed that Maple Leaf Sports would build the complex, which would also include
residential condominiums, in a joint venture with another company, probably FHR
Properties Inc., whose parent company is Fairmont Hotels and Resorts Inc., owner of the
nearby Fairmont Royal York Hotel.

FHR Properties already owns several tracts of land on Bremner Blvd. between York
Street and Lower Simcoe Street that have been used recently as parking lots.
"With the convention centre there,s this makes perfect sense, and doing it as a joint
venture minimizes their risk," the source said.

Toronto city councillor Olivia Chow confirmed that Fairmont two years ago received
rezoning approval to build a hotel on the vacant land. A spokesperson with the city's
planning department said Fairmont had received approval to build as high as 37 storeys.

It's unclear when the companies would break ground on the project or how much it would
cost.

Maple Leaf Sports president Richard Peddie said the company was involved in a number
of ventures in an effort to "increase the enterprise value of our company."

While Peddie said the Maple Leafs and Raptors routinely sell out their games at Air
Canada Centre, "our challenge is to grow this business."

He declined to comment on the hotel and restaurant venture.

A spokesperson for Fairmont couldn't be reached to comment.

While Maple Leaf Sports has suffered a cash crunch because of the National Hockey
League's protracted lockout and has gone so far as to lay off some of its employees, the
new building would likely swell profits at the private company.

Maple Leaf Sports is owned by the Ontario Teachers' Pension Plan Board, Bell
Globemedia, TD Capital and Larry Tanenbaum, who is MLSE's chairman.

MLSE, whose assets include the sports teams, Air Canada Centre and the Leafs TV
digital channel, may already be worth as much as $1.4 billion, based on figures included
in Teachers' 2003 annual report.

Maple Leaf Sports is following in the footsteps of Walt Disney Co.'s parks and resorts
unit.

In 1999, after opening restaurants in Baltimore and Chicago, Disney opened ESPN Zone,
a three-level, 42,000-square-foot sports and television theme restaurant in New York's
Times Square named after its sports cable channel.

ESPN's flagship restaurant boasts a batting cage and other games that simulate football
and hockey.

"It's been a great business for us," said John Pierce, ESPN Zone's director of marketing.
"We've learned that people will come out once for the name on the wall, but after that,
they only come back if they have a good food and beverage experience."
Maple Leaf Sports has modeled its prospective restaurant after ESPN Zone, a source said.

Maple Leaf Sports and Fairmont aren't the only ones building in downtown.

Real estate magnate Donald Trump is building a $500 million Bay Street complex called
Trump International Hotel & Tower touted as "the tallest residential building in Canada."
Developer Harry Stinson is in the midst of erecting Sapphire Tower, an 81-storey
building blocks from Trump's project.




Basketball game at 7 p.m., concert at 10 p.m.: ACC addition to feature cornucopia
of entertainment options
National Post
Wednesday, April 20, 2005
Page: A13
Section: Toronto


The hockey team missed the entire season and the basketball team traded its franchise player before missing the
playoffs for the third straight year.

It has been a tough few months for Maple Leaf Sports & Entertainment, which finally had some good
news to unveil yesterday -- the planned construction of a $350-million complex next to the Air Canada
Centre that will include condominiums, a hotel, a restaurant and sports bar and retail space.

Ian Clarke, an executive vice-president with MLSE, said yesterday Maple Leaf Square is designed to
give visitors to the Air Canada Centre a reason to stay in the neighbourhood.

"We've got three million people a year visiting the ACC for games and concerts and other events," he
said. "The idea is to keep them longer, pre- and post-game."

ACC patrons are to be enticed by 170,000 square feet of retail space, including a 9,000-square-foot
store dedicated to MLSE's sports properties -- the Maple Leafs, Raptors and the Marlies, the minor-
league hockey team that will relocate to Toronto next year.

Maple Leaf Square will also include 26,000 square feet of restaurant space, both fine-dining and a
"high-tech" sports bar.

Mr. Clarke said the sports eatery will be similar to the popular ESPN Zone in New York City's Times
Square, which incorporates a television studio into the main dining area.

"We'll have a high-definition broadcast studio right there in the mix, so people can overlook the studio
as shows are being televised."

Leafs TV and Raptors TV, MLSE's digital specialty channels, will be the primary users of the studio
space, he said.
Shovels are supposed to be in the ground on the Maple Leaf Square project by 2006, with
development estimated to be completed by 2009.

The complex will be co-owned by MLSE, Cadillac Fairview and Lanterra Developments, which bought
the land and brought the other partners on board.

John Sullivan, senior vice-president of development with Cadillac Fairview, said the four floors of
retail space will include a 2,000-seat concert hall.

"The venue could complement things going on at the ACC," Mr. Sullivan said. "We could have a
basketball game that ends at 9:15, and a concert that starts at 10:30, and people could go to both. It's
a very unique opportunity."

The planned complex will be linked to Union Station via an underground passage, and will be
connected to the Air Canada Centre by a glass-covered walkway.




Big plans in T.O.
Page: 5, Edition: Final
The Chatham Daily News - Wed, Apr 20, 2005 - 189 words
Ad Value: $95.28 Exposure: 13,611
Sentiment: 10

The joint venture between sports team owner Maple Leaf Sports & Entertainment, real
estate firm Cadillac Fairview Corp. Ltd. and developer Lanterra Developments, is
scheduled for completion in 2009.
It will include "a fine dining and high-tech sports-themed restaurant," a sports- and
entertainment-themed boutique hotel, two condominium towers, a music club, office
space, a high-definition broadcast studio and a 170,000-square-foot retail space anchored
by a Leafs, Raptors and Toronto Marlies store.
"Maple Leaf Square will be a vibrant and unique landmark that has a tasteful sports and
entertainment theme reflective of the Leafs, Raptors and Air Canada Centre," Maple Leaf
CEO Richard Peddie said in a release.
"Our development creates a larger significant stage that will attract major sports and
world events to Toronto and at the same time support tourism and economic growth."
The development is expected to create more than 1,700 construction jobs and about 500
full and part-time positions when complete.




Toronto Star
Condo Living, Saturday, April 23, 2005, p. P10

Condo towers part of giant sports complex
Theresa Boyle

Two condominium towers will be included in a major new sports and entertainment
complex to be erected next to the Air Canada Centre.

The $350-million Maple Leaf Square, announced earlier this week, will also include a
hotel, restaurant, 2,000-seat music club, office space, broadcast studio and retail complex.

While sports enthusiasts are expected to be among the purchasers of the project's 900
condominium units, developer Mark Mandelbaum says he expects people from all walks
of life will want to make Maple Leaf Square their home.

"The project, Maple Leaf Square, obviously has an enormous attraction to people who
follow the Maple Leafs and the Raptors," he says.

"For the most part, we expect people working in the downtown financial core to be very
much interested in buying units here. Also, the fact that it's close to Union Station makes
it very convenient to get anywhere... in the downtown core or outlying areas," he adds.

Mandelbaum is chair of Lanterra Developments, which is a partner in the project along
with Maple Leaf Sports & Entertainment and the Cadillac Fairview Corp. Ltd.

"Maple Leaf Square is an important part of this city's ongoing transformation," Mayor
David Miller told a news conference at Tuesday's unveiling.

"Not only have the three companies leading this development earned tremendous respect
within their industries, they have also demonstrated a real commitment to city building."

One of the condominiums will be 44 storeys and the other will be 40 storeys. They will
sit atop an eight-storey podium in which a sports-and-entertainment-themed boutique
hotel will be located. The hotel will have 171 rooms.

The York St. project will include a number of green spaces and a public square that will
complement events at the Air Canada Centre, including Leafs and Raptor games,
concerts, other sports events and family shows.

"Maple Leaf Square will be a vibrant and unique landmark that has a tasteful sports and
entertainment theme reflective of the Leafs, Raptors and Air Canada Centre," says
Richard Peddie, president and CEO of Maple Leaf Sports & Entertainment.

"Our development creates a larger significant stage that will attract major sports and
world events to Toronto and at the same time support tourism and economic growth," he
adds.

Maple Leaf Square will be home to a 170,000-square-foot retail space anchored by a
9,000-square-foot Leafs, Raptors and Marlies store.
The project is expected to create more than 1,700 construction jobs and about 500 full
and part-time jobs once it's completed.

Construction is expected to start in a year and to be completed in 2009.

Condominium sales are slated to begin this fall.

Units will range in size from 400 square feet for a studio and up to 900 square feet for
two bedrooms.

Penthouses will be even larger.

"We expect the residences of Maple Leaf Square to be the most sought-after condos in
Toronto," Mandelbaum says.

"No other condominium development can match the location, views, services and
amenities, which will be offered in this stunning project," he adds.

Details such as pricing on the condo units are still to be worked out.

"We haven't determined that yet but we expect them to be marketed toward the kind of
price ranges you would see in downtown condominiums," Mandelbaum says.

Also working on the development are the architectural firms Page+Steele.

Landscape architect Greg Smallenberg will oversee the aesthetics of the project.

The project was announced a week after the Ritz-Carlton Hotel Co. revealed it's building
a 53-storey luxury hotel and condominium complex in downtown Toronto for $300
million.




Development plan targets Leafs fans: Experts call it 'sizzle'
National Post
Thursday, November 17, 2005
Page: A16
Section: Toronto
Byline: Garry Marr
Source: National Post


Forget about the first-time purchasers and speculators. Cadillac Fairview Corp. and Maple Sports and
Entertainment have another condo buyer in its sights: the hockey fan.

The two companies, along with partner Lanterra Developments, will today detail plans for its new
development, The Residences of Maple Leaf Square -- a sports-branded condo development that will
be linked to the Air Canada Centre. It's part of a $350-million development that includes a hotel,
restaurants and retail centre, to be finished by 2009.

But can one of North America's most storied franchises -- albeit one that hasn't won a championship in
38 years -- gets its fan base to buy into the concept?

"There is no doubt some of our season ticket holders will be interested in the project," said Ian Clarke,
executive vice-president of business development for Maple Leaf Sports and Entertainment.
Commercials for the new development have filled sports stations' airwaves.

The developers gave fans the first glimpse at what units in the tower will look like. On Tuesday, the
condo sales centre opened its doors to fans for a preview.

They got to see architectural drawings, models drawn to scale and a sample suite -- a two-bedroom,
1,016-square-foot suite that starts at $449,000 and is appropriated named the Toronto model.

The Toronto model is a mid-level suite, while the most expensive is the Los Angeles, a $1,299,900,
2,124-square-foot unit with two bedrooms plus a library/den. The cheapest pad is the 400-square-foot
Miami, which starts at $189,900. All of the models are named after NBA or NHL cities.

"We've got a range of condos and suites that can appeal to a wide variety of our fans," Mr. Clarke said.
"You don't have to be a platinum subscriber to buy one of the condos, you could be a purple holder."

But is the hockey fan really getting anything being that much closer to the rink? Condo owners will
have access to a private box at the ACC, but they do have to pay for the privilege.

Bob Rennie, owner of Vancouver-based Rennie Marketing Systems, said it's smart to go after season
ticket holders, although he's not sure how much it will contribute to sales.

"It makes the season ticket holder feel good about getting an invite," Mr. Rennie said. "But are they
really looking at buying? Really this is just another database to tap into."

Similar projects involving housing or hotels adjacent to arenas are proposed for Los Angeles, San
Diego and Dallas.

Mr. Rennie said the owners of the Vancouver Canucks are also looking at development near GM
Place, the home of the NHL club, and undoubtedly they, too, would go after local fans. The team has
sent a letter of inquiry to the city.

In the end, it's likely the group putting Maple Leaf Square together will be hard-pressed to charge more
for its condos just because of its association with the hockey team and the NBA Raptors, experts say.

"I think it makes the project different but I don't think anyone will pay more just because it's called
Maple Leaf condo," said Derek Lobo, a condo consultant. "If I want to live near the ACC, there are lots
of condos there. I can stand in the parking lot and count the number of condos and see 5,000."

Mr. Lobo said at $450 a square foot, The Residences of Maple Leaf Square are at the high end. "Sure
the Leafs are a little sizzle on the steak but what else are you getting? Is Dick Duff going to be the
doorman?" joked Mr. Lobo about the left-winger who won two Stanley Cups with the Leafs in the
1960s.
Downtown
National Post
Thursday, November 24, 2005
Page: PH2
Section: Post Homes
Byline: Lisa Van de Ven
Source: National Post


Price range: $189,900 to $1.3-million

Location: Bremner Boulevard and York Street

Right beside the Air Canada Centre, the Residences of Maple Leaf Square isn't just for sports fans.
When completed, the site will feature two condominium towers -- the first 50 storeys high -- as well as
a public square, a boutique hotel and retail, restaurant and office space. A unique promotion is
currently underway at the site: Condominium buyers can receive a free $5,000 upgrade certificate, or
bet on the Leafs and get $100 credit for each of their wins during the current season, another $1,000
off the purchase price if the team gets to the playoffs and $3,000 more if the Leafs win the Stanley
Cup.

BUILDER/DEVELOPER Maple Leaf Sports & Entertainment Ltd., The Cadillac Fairview Corp. Ltd.,
and Lanterra Developments.

SUITES Bachelor, one-bedroom, one-bedroom-plus-den, two-bedroom, two-bedroom-plus-den, and
penthouse layouts are available.

SIZE 400 to 2,124 square feet.

OCCUPANCY Slated to begin in Fall 2009.

TARGET MARKET Sports fans who want to live close to the Air Canada Centre, as well as other
buyers who want to live downtown.

FEATURES Suites will have nine-foot ceilings, engineered hardwood flooring in the principal rooms,
porcelain or ceramic flooring in the foyer, 40-ounce broadloom in the bedrooms, granite kitchen
countertops, ceramic tile backsplashes, stainless steel appliances, and marble bathroom countertops.
Smart Building Technology will also be integrated into suites, allowing buyers to control and monitor
their unit and communicate with management, the concierge and the front door.

AMENITIES The condominium portion of the project features an indoor pool, a hot tub, an outdoor
pool, a fitness centre, a home theatre, a multi-purpose room, and a 24-hour concierge.

STANDOUTS The site has direct access to the Air Canada Centre, Union Station and Toronto's PATH
underground system. The Bremner Boulevard bike path will be close at hand, as will the ferry to
Centre Island. The building also offers a range of environmentally friendly features.

SALES OFFICE Currently in preview registration. Call 416-601-6885 or visit mapleleafsquare.com.
Downtown
National Post
Thursday, November 24, 2005
Page: PH2
Section: Post Homes
Byline: Lisa Van de Ven
Source: National Post


Price range: $189,900 to $1.3-million

Location: Bremner Boulevard and York Street

Right beside the Air Canada Centre, the Residences of Maple Leaf Square isn't just for sports fans.
When completed, the site will feature two condominium towers -- the first 50 storeys high -- as well as
a public square, a boutique hotel and retail, restaurant and office space. A unique promotion is
currently underway at the site: Condominium buyers can receive a free $5,000 upgrade certificate, or
bet on the Leafs and get $100 credit for each of their wins during the current season, another $1,000
off the purchase price if the team gets to the playoffs and $3,000 more if the Leafs win the Stanley
Cup.

BUILDER/DEVELOPER Maple Leaf Sports & Entertainment Ltd., The Cadillac Fairview Corp. Ltd.,
and Lanterra Developments.

SUITES Bachelor, one-bedroom, one-bedroom-plus-den, two-bedroom, two-bedroom-plus-den, and
penthouse layouts are available.

SIZE 400 to 2,124 square feet.

OCCUPANCY Slated to begin in Fall 2009.

TARGET MARKET Sports fans who want to live close to the Air Canada Centre, as well as other
buyers who want to live downtown.

FEATURES Suites will have nine-foot ceilings, engineered hardwood flooring in the principal rooms,
porcelain or ceramic flooring in the foyer, 40-ounce broadloom in the bedrooms, granite kitchen
countertops, ceramic tile backsplashes, stainless steel appliances, and marble bathroom countertops.
Smart Building Technology will also be integrated into suites, allowing buyers to control and monitor
their unit and communicate with management, the concierge and the front door.

AMENITIES The condominium portion of the project features an indoor pool, a hot tub, an outdoor
pool, a fitness centre, a home theatre, a multi-purpose room, and a 24-hour concierge.

STANDOUTS The site has direct access to the Air Canada Centre, Union Station and Toronto's PATH
underground system. The Bremner Boulevard bike path will be close at hand, as will the ferry to
Centre Island. The building also offers a range of environmentally friendly features.

SALES OFFICE Currently in preview registration. Call 416-601-6885 or visit mapleleafsquare.com.
Moving Up
PUBLISHED NOVEMBER 17, 2005

Leafs fans are going to love Residences




TONY BOCK/TORSTAR NEWS SERVICE
The Residences of Maple Leaf Square’s principals stand together at the Air Canada Centre. From left are:
John Sullivan, of Cadillac Fairview Corp; Richard Peddy of Maple Leaf Sports and Entertainment; and
Lanterra Developments’ Barry Fenton and Mark Mandelbaum.




Artist's depiction of the project's first condo.


Holy Mackinaw!
If you’re a Maple Leafs fan in the market for a condo, the Residences of Maple Leaf
Square may be just right for you.

There’s a few reasons you might be interested in the $350-million project that’s owned
by Maple Leaf Sports and Entertainment (MLSE), Cadillac Fairview and Lanterra
Developments.

First, it’s located adjacent to the Air Canada Centre at the corners of York Street and
Bremner Boulevard. A glass-covered bridge will connect the new development to the
ACC. Starting from $189,900, the units will range in size from 400 to about 2,100 square
feet.

The second is a bit of a dare.

Preview purchasers will be offered a choice: receive a $5,000 upgrade certificate, or
choose an upgrade package tailored for true Leafs fans. It includes a $100 credit as an
adjustment on closing for each game the Leafs win in the 2005-06 NHL regular season,
from the day your agreement of purchase and sale is firm. If the Leafs make the playoffs,
take another $1,000 off the purchase price. If they win the Stanley Cup, another $3,000 is
taken off the purchase price.

The sales office, located at 29 Bremner Blvd., is not open to the public yet, so condo
owners must register online to get in on preview purchasing.

Secondly, condo owners at MLS will enjoy a private box at the ACC. The one box will
be shared among all residents of the almost 900 units in the two-tower complex.

“We will make the box available to residents on a rotating basis,” says Ian Clarke, MLSE
senior vice-president and chief financial officer.

The puck is expected to drop on the proposed 44- and 40-storey high towers with a
groundbreaking this spring, and first occupancies are set for autumn 2009.

The first condo to be built, pictured above, will be about 40 storeys on top of a 10- or 11-
storey podium. Inside the podium will be a 9,000-sq.-ft. retail store exclusively for Leafs,
Raptors and Marlies clothing; a 2,000-sq.-ft., high-definition broadcast studio; office
space; theatre for Leafs, Raptors and Marlies events; a fine dining restaurant; a high-tech
sports and entertainment bar and restaurant, and 150,000 sq. ft. of office space.

Though Lanterra and Cadillac Fairview will not discuss details of the condo units with
Metro until a news conference today, Clarke tells Metro that the square has the potential
to become a new entertainment district in downtown Toronto. The “tastefully sports and
entertainment themed residences should be appealing to 18-40-year-olds who want to
enjoy the downtown lifestyle.”
Residents will have direct access to Union Station and the ACC through the PATH
system, which will be extended from Union, through the west side of the ACC and across
to MLS.

The city of Toronto’s planner overseeing the development of the square and residences
themselves, Carlo Bonanni, tells Metro that plans have not been approved yet, but are
currently in circulation for comment and review.

“The revised proposal has been submitted, and the final report should come out sometime
in the New Year,” Bonanni says.

Other components of MLS include a 170-room hotel, a 5,000-sq.-ft. daycare centre with
priority registration going to owners at MLS, a public square and a proposed 870-spot
underground parking for residents and visitors.

Available suites include range from bachelors, all the way up to luxurious penthouses
starting from over $1.3 million.

For more, call 416-601-6885 or register online at www.mapleleafsquare.com.



Ottawa Sun

NEW LEAF BUILDING PLAN

TORONTO -- Maple Leaf Square, a major hotel, shopping and entertainment
development, will be built adjacent to the home of the Toronto Maple Leafs and Raptors
at a cost of $350 million. The joint venture between sports team owner Maple Leaf Sports
& Entertainment, real estate firm Cadillac Fairview Corp. Ltd. and developer Lanterra
Developments, is scheduled for completion in 2009.


Toronto Star
Sports, Thursday, April 21, 2005, p. C04
MLSE Square squeeze

Dave Perkins

The Raptors' latest train wreck of a season mercifully ended last night and as the LeBron
James fans left the Air Canada Centre, a couple departing by the west doors stopped and
gazed. "Look, Martha," one whispered. "Some day this will be Maple Leaf Square. Going
to bring just what we need down here, too - a couple of nice 40-storey condo towers."

They have seen the future and, as usual, it comes with large dollars being squeezed out of
the familiar Maple Leaf logo - the one fans never tire of worshipping.
You can't blame Maple Leaf Sports and Entertainment and its main owner, the Ontario
Teachers' Pension Plan, for exploiting the logo to create money. They are, in fact, very
good at it. They are not very good at producing teams that compete for championships, or
even get close. But in the areas that are truly important to them - namely creating wealth
and building franchise value - you can't beat 'em with a stick.

The timing of the week's proclamations from Richard Peddie and Co. says everything.
Monday, they reshuffle the executive chairs so somebody can at least ask Raptors GM
Rob Babcock what he has in mind, for Pete's sake. Then Tuesday, they trot out that can't-
miss logo as name of a $350 million development of shops, condos, mini-hotel and more
shops. Plus, there's a public place where suckers who can't get Leaf tickets can watch the
game taking place mere yards away. Just guessing there will be a small fee involved.
MLSE must be afraid that fans are going to watch the game on TV without them getting
their cut.

This project is bound to be a success, sure. All that land between the Air Canada Centre
and the SkyDome - we paid for that name and we should use it - is crying to be
developed in a sports-themed way. It's a natural place to pack in sports bars, T-shirt and
souvenir shops, ESPN Zone-style arcades and such. Lots of public transit right next door,
too. It certainly makes better sense than leaving it as empty lots and parking lots.

One of the project's co-developers, naturally, turns out to be Cadillac Fairview, a full-
fledged subsidiary of the Teachers' Pension Plan. (Keeping it in the family is just good
business.) There is no word yet on public participation - who can wait to find out exactly
how much taxpayers will be allowed to contribute? - but, MLSE being MLSE, you know
there will be plenty of public grease, one way or another. These guys don't go across the
street without reaching into our pockets as deeply as they can.

You saw them scoop away the Ricoh Coliseum after the public paid to refurbish it, only
to have it stand empty during this NHL lockout season. You see them trying to swipe
control of the new hockey arena in downtown Oshawa. You see them angling to put the
latch on that stupid waste of money planned at York University. To get their hooks into
that one, they'll go so far as to bring in a pro soccer team.

They do all these things because (1) they can and (b) this is what they're all about:
spending money - even, sometimes, their own - to make money. This is where the
brainpower is directed and there's a lot of it. All that other stuff, building title teams and
rewarding long-time supportive fans and so on, is a nice concept. But it's not the priority
here. They own that logo and they're going to milk it as long as they can.

Who can blame them? Peddie is fond of pointing out that even with this NHL lockout
slowing down that particular revenue stream, he's still making his numbers in the other
areas. The basketball team sucks? The hockey has gone away? Those are temporary
blips. In the long run, it's all about business as usual for MLSE. Very good business.
THE BOOM IS BACK: ASHTON; HUGE PROJECT TO SIT NEXT TO
ACC
The Toronto Sun
Tuesday, April 19, 2005
Page: 24
Page: 24, Edition: Final
The Toronto Sun - Tue, Apr 19, 2005 - 180 words
Ad Value: $1,074.92 Exposure: 207,850
Sentiment: 17


"There's more cranes downtown than at the zoo. That's a really good sign," Councillor Brian Ashton
said.

Maple Leaf Sports and Entertainment, Cadillac Fairview and Lanterra Developments are poised to
announce today details of the planned commercial and retail development.

The announcement comes after the Ritz-Carlton Hotel Co. last week unveiled plans to build a 53-
storey, $300-million building, combining hotel and condo units.

That development will be located on Wellington St. -- overlooking Roy Thomson Hall and adjacent to
the CBC building.

"It sounds like both in the hotel and on commercial activities, there's greater investor confidence,"
Ashton said.

The city seems to be rebounding after "everything went flat" during the recession of the 1990s, he
said.

A spokesman for Cadillac Fairview refused to divulge details of the development.

However, sources said the plan includes a hotel, office space, condominiums and multi-level mall.




Toronto's skyline makeover; Developers propose new $350 million
multi-use complex It's the fourth major project planned in the
downtown core
The Toronto Star
Wednesday, April 20, 2005
Page: C1
Section: Business
Byline: Madhavi Acharya-Tom Yew
Source: Toronto Star


Big name players continue to make over Toronto's skyline, as a group that includes the owners of the
Maple Leafs hockey team unveiled plans yesterday for a $350 million hotel, condominium, shopping
and entertainment complex.
Maple Leaf Square, which will be built adjacent to the Air Canada Centre, will boost tourism and help
revive the city's waterfront, a consortium of developers told a news conference yesterday.

The announcement marks the fourth major development project slated for the city's downtown core
and comes just one week after the Ritz-Carlton Hotel Co. said it plans to build a 53-storey luxury hotel
and condominium project for $300 million.

Larry Tanenbaum, chairman of Maple Leaf Sports and Entertainment Ltd., billed the latest project as
"Toronto's newest must-see, must-play, must-stay, sports-and-entertainment destination."

The consortium includes real estate giant Cadillac Fairview Corp. Ltd., and developer Lanterra
Developments. Maple Leaf Sports also owns the Toronto Raptors basketball team.

"Real estate is so capital intensive and it takes so long to develop, it's really a long-term commitment,"
John Sullivan, senior vice-president of development for Cadillac Fairview, said after the conference.
"We'll have our ups and downs over the years, but over time we think it will be very successful."

Maple Leaf Square will include two condominium towers more than 40 stories high with 900 units. A
still-unnamed 170-room boutique hotel will feature a sports theme. A glass walkway will link the
complex to the Air Canada Centre.

The complex will also include a 2,000-seat concert hall, a fine dining restaurant, and a high-tech sports
bar with booths featuring personal television screens and video games. There will be 170,000 square
feet of shopping space (about the size of the retail space at the Toronto Dominion Centre), including a
9,000-square-foot Leafs and Raptors store.

The heart of the complex will be a public square between Bay and York Streets.

Developers brushed off suggestions that the project may add to downtown traffic congestion, noting it
will be right across the street from Union Station, the city's transportation hub.

"If there's any place in the city people could live without having to resort to a using a car, it's right
here," said Mark Mandelbaum, Lanterra chair and co-founder.

Subject to approval by the city, developers hope to begin construction in spring 2006 and finish the
project in 2009.

The Ritz-Carlton hotel and condominium, the Sapphire tower, and the Trump Hotel and Tower are also
slated for completion around the same time.

"There will be the inevitable knee-jerk statement that there are too many of these projects, and I can't
understand it. For some reason people still think Toronto is Peterborough, but just with more streets,"
said condo developer Harry Stinson, who plans to build the tallest residential tower - the Sapphire - in
Toronto on Richmond St.

"I don't think people grasp just how large Toronto is. It's healthy for the city when you have all these
great projects going up."

The prospects for a project such as Maple Leaf Square are difficult to evaluate, said Ed Strapagiel,
executive vice-president of Kubas Consultants.

"All told, the signs seem pretty positive. On the other hand, who knows what the economy will be doing
in 2009," Strapagiel said. "If the economy is good and tourism is high, they'll look like geniuses. If the
economy goes to hell and there's another terrorism attack or something, they'll look like fools. How it
will be received in the market is the sort of gamble that property developers take."
TOWERING VISION; PROJECT PLANNED NEXT TO ACC
Byline: BY BRIAN GRAY, TORONTO SUN
Page: 14, Edition: Final
The Toronto Sun - Wed, Apr 20, 2005 - 297 words
Ad Value: $1,598.42 Exposure: 207,850
Sentiment: 10 / 0


THREE COMPANIES teamed up and dropped the puck yesterday on a new $350-million retail and
condo development slated to line up on the west side of the Air Canada Centre.

Maple Leaf Sports and Entertainment -- owners of the ACC, the Toronto Maple Leafs and Toronto
Raptors -- Cadillac Fairview and Lanterra Developments unveiled plans for the almost 1-million-
square-foot Maple Leaf Square, combining living, working and shopping with the city's sports icons.

"It's time to take our success to new levels," the MLSE Chairman said at the announcement outside
Gate 1 of the ACC. "We will create Toronto's newest must-see, must-play, must-stay sports and
entertainment destination."

Two condo highrises will tower over an open public square, and an indoor complex with a 2,000-seat
concert venue, office space, broadcast facilities, and retail outlets.

The design team visited similar projects in San Diego, Los Angeles, Phoenix and Chelsea, England
but MLSE President and CEO Richard Peddie said Maple Leaf Square will be different.

"There's a lot of really cool stuff going on but no one has put it together this way and no one carried it
over to their teams," Peddie said. "In Chelsea Village, for instance, there's a hotel, there are
restaurants, there's a fitness club but it's not tied into the soccer team."

Maple Leaf Square, however, cannot be counted as a "win" until it receives city approval -- something
Toronto Councillor Joe Pantalone expects to come next year after public consultation and a
presentation to council.

Pantalone said he thinks the combination of work, residential and retail space is just what the city
needs.

"It fits in perfectly with the city plan," Pantalone said. "You want to be able to live there and go to work
and shop and if you can do it by walking."