Ontario Premier Doug Ford announced on Wednesday that he has directed his government to conduct a thorough investigation into a major lease agreement with Therme, a European wellness company, which seeks to develop a spa and water park in Toronto's waterfront area. This inquiry was spurred by a recent New York Times investigation that revealed discrepancies in Therme's reported qualifications during the bidding process.
The controversial lease, which spans 95 years, was finalized last year, allowing the Austrian firm to create an artificial island resort situated off Toronto's bustling downtown, in Lake Ontario. Premier Ford, addressing the media in Toronto, emphasized the need for a meticulous review of the contract, stating, “When I heard this allegation, I went directly to the minister and to the deputy and said, ‘Here, look into this.’”
“There’s a need to double- and triple-check the contract,” he added, asserting that the investigation is primarily to ensure transparency and accountability in the dealings. Therme has yet to provide a comment regarding the situation.
During the bidding phase, Therme purportedly exaggerated its operational experience, claiming to manage four to six wellness facilities across Europe, while it actually operated only one site located near Bucharest, Romania. This revelation prompted the provincial government to reassess the legitimacy of Therme's submissions to ensure that the integrity of the bidding process was upheld.
