Department of Public Affairs
University of Toronto
Toronto, Canada

Contact:
Robert Steiner
Assistant Vice President, Strategic Communications
University of Toronto
(416) 978-0100

Jim Maclean
Metrus
(416) 919-4319

Monday, July 28, 2008

Metrus purchases Dunlap lands from U of T

Pledges respect for site's heritage

Metrus Development has purchased the 190 acre David Dunlap lands in Richmond
Hill from the University of Toronto.

"We are pleased to become stewards of a unique and historical site on which
we intend to protect the significant buildings, encourage ongoing science
and, in due course, propose development that will respect its heritage,"
said Metrus vice-president, Fraser Nelson. Nelson adds that Metrus "fully
understands and appreciates" the significance of the Dunlap property.

"We have been a responsible corporate citizen of Richmond Hill for over 25
years. Like other citizens, we value and respect these lands," said Nelson.

Metrus will ensure that the historic observatory and its telescope, the
stone administration building dating from 1935 and the Alexander Marsh
farmhouse dating from the 1850s will all remain intact, regardless of
whether they are ever officially designated by the Conservation Review
Board, which has yet to hold hearings on the matter.

Nelson also says that Metrus intends "to encourage ongoing science and
learning" by seeking proposals from qualified astronomers and/or clubs to
keep the observatory and its telescope funded and running. Nelson notes that
Metrus has no current plans for development of the site.

"No development can or will occur on the property until development
approvals are obtained and water and sewer allocation is available. Any
development that does eventually occur will be respectful of the heritage of
the site, on which the observatory, the administration building and the farm
house will continue to exist," Nelson said.

The sale, brokered by Michael Czestochowski of CB Richard Ellis Limited,
will generate $70 million. The University of Toronto's proceeds from the
sale will be endowed in perpetuity to support the recently established
Dunlap Institute for Astronomy and Astrophysics -- continuing the legacy of
the 1930s gift made by Jessie Dunlap in memory of her husband, David.

U of T's new Dunlap Institute will focus on research, teaching, advanced
training and public outreach in astronomy and astrophysics. Through this
effort, U of T will further advance Toronto's current standing as a world
leader in astronomy and astrophysics. The Institute will also help develop
scientific instrumentation for world class observatories and foster major
national and international research collaborations.

"The Dunlap Institute will build on Toronto's leadership in astronomy and
astrophysics in the 21st century in the way that the Dunlap Observatory did
in the 20th century," said Meric Gertler, interim dean of arts and science
at the University of Toronto. "We are glad to know that Metrus will honour
the observatory's past even as we honour the Dunlap family's legacy for the
future."
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