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Canadian Pacific is Sitting on a Gold Mine




Canadian Pacific Railway is tapping DREAM Unlimited to help it unlock value from its surplus real estate. Properties poised for redevelopment by the just-announced JV—dubbed DREAM Van Horne Properties—include Toronto’s former Obico terminal, a 74-acre yard on Kipling Avenue that closed in 2012. Other properties cited by CP as ripe for a revamp: Schiller Park, a 75-acre site in Chicago, and South Edmonton Yard, a 92-acre site near downtown Edmonton. DREAM CEO Michael Cooper says he believes there’s “unlimited potential” to work with CP to develop land that's “benefited from the growth of our cities.”