The land where Markham’s Buttonville Airport now sits has been sold to real-estate giant Cadillac Fairview.
It will close for good within the next five years. The developer plans to create a city within a city on the site.
“Well you wonder where all of those planes and private aircraft operators are going to fly out of," said 680News senior business editor Mike Eppel. "It is one of the busiest airports in the country. In fact, it’s the 10th busiest airport in Canada.
“The Greater Toronto Airport Authority which operates Pearson is looking to bolster traffic at Pearson specifically. But at the same time, when you’re talking about small commuter planes and big jets, is that the best fit? Not necessarily. A lot of people like Buttonville from a piloting standpoint simply because of its centralized location."
There are other small airports in the province and traffic at those locations could also increase, he warned.
“Going forward, will this bolster air traffic out of Oshawa? There’s a regional airport there. There’s still that land north of Pickering and a lot of people are not necessarily going to be happy with the idea of an airport there."
Armadale, which owns Buttonville operator Toronto Airways Limited, announced the deal on Tuesday. The 170-acre site is bounded by 16th Avenue, Highway 404, Renfrew Drive and Valleywood Drive.
Toronto Buttonville Municipal Airport began as a grass strip in 1953, and has grown to accommodate private, commercial and corporate aviation as well as a flight school.