UPDATE: The Globe and Mail has an article pretty much confirming the selling/moving of the airport.
In the latest development with Buttonville, yorkregion.com is reporting that the Siftons may move Buttonville to a new location.
The owners of Buttonville airport are considering moving the airport from its prominent Hwy. 404 location to keep it running.
Derek Sifton, president of Toronto Airways Ltd., which owns the airport, announced at a news conference today his family is looking at development opportunities for the airport lands.
“We basically have no choice but to protect our investments,” Mr. Sifton said, adding the family “basically cannot sit here in a status quo and do nothing”.
The future of Buttonville airport has long been in question, but never so much as recently, after the Greater Toronto Airports Authority cancelled a much-needed $1.6-million annual funding agreement with the airport.
Mr. Sifton emphasized he’s looking at all his options and is not committed one way or another.
He also said the airport won’t be shut down tomorrow, addding he believes his family has “a very valuable commodity that can be relocated, down the road.”
$10 says they sell the land (worth almost $150M) make a pretty penny, then move their school to Markham airport.