Toronto Port Authority has admitted that it is looking for a new home for the old terminal at Billy Bishop Toronto City Airport.
Built in the dying days of the Great Depression, the terminal – named a National Heritage site in 1989 – was one of the first in Canada to accommodate civilian air travel and is the last standing two-storey, 1930s-style wooden aviation terminal in Canada.
Currently, the terminal's status is governed by a tripartite agreement between the City, Transportation Canada, and the TPA.
Under the agreement, if the TPA decides it no longer needs the terminal, then it is solely responsible for the costs associated with its relocation and finding another party to take ownership.
To facilitate the process, the TPA has offered to contribute C$250,000 towards the building's relocation and reconstruction, but to date there have been no takers.
Porter Airlines opened a new C$50 million, 150,000 sq. ft terminal at Billy Bishop in 2010.