The Kielburger Family's Private Real Estate Empire And Its Recent Deal With The City Of Toronto - 2020-07-24
The City of Toronto is expected to spend up to almost $10 million over 15 years to lease and renovate a property owned by the parents of Craig and Marc Kielburger, the co-founders of the WE organization. Despite speculation by residents of Toronto's Cabbagetown neighbourhood, who have pointed to Mayor John Tory's long relationship with the Kielburgers, a spokesperson for the mayor says he had no involvement in the decision, which was made by City staff without Council approval.
The property is currently assessed at just under $2.3 million for tax purposes.
According to WE Charity, a real estate agent hired by the City approached Fred and Theresa Kielburger regarding 233 Carlton Street, which they own through a numbered company. A representative then handled the deal on the Kielburgers' behalf.