The provincial government wants to speed up the sale of surplus properties, including the former Guelph Correctional Centre and surrounding land.
It announced that 243 surplus properties across Ontario, including three in Guelph, will be “back in productive use” over the next four years.
The three Guelph properties are on the list are the "Guelph Correctional Facility, Guelph-Wellington Detention Centre and the Guelph Correctional Facility Residual."
The three properties are bordered by York Road, Victoria Road South and Stone Road.
The city has already begun the process of acquiring some of this property, submitting a letter of intent to the province a year ago to purchase a 243-acre portion that included the former Guelph-Wellington Detention Centre land, but not the Guelph Correctional Facility or the land immediately adjacent to it.
The city plans to build the Guelph Innovation District, which will include a mix of residential, research, cultural and conservation uses.
The province announced its plans earlier this week for a more “efficient” disposal of land and properties, which total 14,600 acres.
The province says the sale of the 243 properties over the next four years will generate roughly $105 to $135 million in net revenue and save almost $9.6 million in cost savings and liability reduction.
“The improved plan will reduce red tape, create more affordable housing and long-term care spaces and put more money in people's pockets,” said Bill Walker, Minister of Government and Consumer Services in a news release.
"Ontario currently has hundreds of vacant surplus properties across the province, costing the government millions of tax dollars a year to maintain," said Walker.
"Our plan is about working harder, smarter and more efficiently so we can reduce costs, generate much needed revenue and make life better for the people of Ontario."
It is believed the plan will help free up properties that can be used for affordable housing and long-term care, the government said.