"Derek Sifton, President of TAL has announced today that a business agreement has now been put in place to redevelop the airport lands. Armadale Co. Limited (the parent company to TAL) and The Cadillac Fairview Corporation Limited have formed a joint venture for the development of the airport lands.
In speaking to his staff and tenants about the announcement Sifton stated “I can tell you now with certainty that in the coming years, this airport site will be closed for redevelopment under this agreement. While this will not happen tomorrow, it is going forward and will occur sometime over what we expect will be a five year period.”