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Bailing out MaRS is going to cost Queen’s Park a fortune

By Steve Kupferman

| September 24, 2014

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$308,800,000

—The amount of money the cash-strapped provincial government has committed to bailing out MaRS Phase 2, an office tower at University Avenue and College Street. According to the Globe, the tower—built by MaRS, a publicly funded startup incubator—was supposed to pay for itself by attracting innovative companies as tenants, but high rents have left the property mostly empty and totally insolvent.

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