CBC has collected $500 million in real estate holdings, according to documents obtained by the Canadian Taxpayers Federation (CTF). .“It sure seems the CBC is spending way more on its buildings than competitors spend, but what value do taxpayers get for all these properties?” said CTF Federal Director Franco Terrazzano in a Monday blog post. .“Taxpayers have every right to question why we’re paying for all these CBC buildings in Canada and in other countries.”.The CTF said CBC’s real estate portfolio, comprised of 12 properties scattered across Canada, is assessed at more than $444 million. It added it leases another 72 properties, including five in foreign countries, for which it refuses to disclose costs. .Records detailing the CBC’s real estate portfolio were released after a written order paper question from Conservative MP Adam Chambers (Simcoe North, ON). .CBC’s most expensive property was its Toronto headquarters ($313.9 million). .Subsequent to that is its Vancouver headquarters ($99.1 million). This was followed by Winnipeg ($11.7 million), St. John’s, NL ($4.4 million) and Yellowknife ($3.2 million). .When Torstar was sold in 2020, the price tag for it was $52 million. When the Calgary Herald sold its building earlier this year, it went for $17.3 million. .The CBC refused to disclose what it spends on the 72 other properties it leases in Canada and abroad, citing it as “commercially sensitive information.” .Outside of Canada, it leases property in Paris, London, New York City, Mumbai and Washington, DC. .In Paris, it leases offices in a corner building on one of the prestigious avenues leading off the Arc de Triomphe, located in the city’s 17th Arrondissement and on the right bank of the River Seine. .In London, it leases office space bordering the city’s Soho district, which is famous for restaurants and nightlife and located a short drive from Buckingham Palace and Hyde Park. .For New York City, it leases office space in downtown Manhattan, which is a short walk from the Rockefeller Center and Central Park. .It leases multiple properties in six Canadian cities, including two in Prince Rupert, BC, and two in Matane, QC. .In Montreal, it leases three properties, including its French-language headquarters on Papineau Avenue. While it is now refusing to say what it costs to lease its Montreal headquarters, the CBC disclosed it was paying $20 million per year in 2019. .Terrazzano concluded by asking why the CBC needs to lease properties in foreign countries, why it has multiple ones in smaller Canadian cities, and how much it is costing people. .“The CBC costs taxpayers more than $1 billion every year, so at the very least it owes Canadians full transparency,” he said. .Conservative leader Pierre Poilievre said he will off CBC's properties. ."It warms my heart to think of the families that will move into a home they can afford at the former headquarters of the CBC," said Poilievre. .The CBC awarded itself more than $156 million in pay raises and bonuses, despite complaining of severe financial challenges, according to documents obtained by the CTF in November. .READ MORE: CBC gave out $156 million in pay raises and bonuses.“The CBC should stop handing out bonuses and raises instead of taking more money from taxpayers,” said Terrazzano. .Federal funding for it totals $1.3 billion a year.
CBC has collected $500 million in real estate holdings, according to documents obtained by the Canadian Taxpayers Federation (CTF). .“It sure seems the CBC is spending way more on its buildings than competitors spend, but what value do taxpayers get for all these properties?” said CTF Federal Director Franco Terrazzano in a Monday blog post. .“Taxpayers have every right to question why we’re paying for all these CBC buildings in Canada and in other countries.”.The CTF said CBC’s real estate portfolio, comprised of 12 properties scattered across Canada, is assessed at more than $444 million. It added it leases another 72 properties, including five in foreign countries, for which it refuses to disclose costs. .Records detailing the CBC’s real estate portfolio were released after a written order paper question from Conservative MP Adam Chambers (Simcoe North, ON). .CBC’s most expensive property was its Toronto headquarters ($313.9 million). .Subsequent to that is its Vancouver headquarters ($99.1 million). This was followed by Winnipeg ($11.7 million), St. John’s, NL ($4.4 million) and Yellowknife ($3.2 million). .When Torstar was sold in 2020, the price tag for it was $52 million. When the Calgary Herald sold its building earlier this year, it went for $17.3 million. .The CBC refused to disclose what it spends on the 72 other properties it leases in Canada and abroad, citing it as “commercially sensitive information.” .Outside of Canada, it leases property in Paris, London, New York City, Mumbai and Washington, DC. .In Paris, it leases offices in a corner building on one of the prestigious avenues leading off the Arc de Triomphe, located in the city’s 17th Arrondissement and on the right bank of the River Seine. .In London, it leases office space bordering the city’s Soho district, which is famous for restaurants and nightlife and located a short drive from Buckingham Palace and Hyde Park. .For New York City, it leases office space in downtown Manhattan, which is a short walk from the Rockefeller Center and Central Park. .It leases multiple properties in six Canadian cities, including two in Prince Rupert, BC, and two in Matane, QC. .In Montreal, it leases three properties, including its French-language headquarters on Papineau Avenue. While it is now refusing to say what it costs to lease its Montreal headquarters, the CBC disclosed it was paying $20 million per year in 2019. .Terrazzano concluded by asking why the CBC needs to lease properties in foreign countries, why it has multiple ones in smaller Canadian cities, and how much it is costing people. .“The CBC costs taxpayers more than $1 billion every year, so at the very least it owes Canadians full transparency,” he said. .Conservative leader Pierre Poilievre said he will off CBC's properties. ."It warms my heart to think of the families that will move into a home they can afford at the former headquarters of the CBC," said Poilievre. .The CBC awarded itself more than $156 million in pay raises and bonuses, despite complaining of severe financial challenges, according to documents obtained by the CTF in November. .READ MORE: CBC gave out $156 million in pay raises and bonuses.“The CBC should stop handing out bonuses and raises instead of taking more money from taxpayers,” said Terrazzano. .Federal funding for it totals $1.3 billion a year.
