The Master Plan has begun. Friday morning, Sheldon Levy, the President of Ryerson University, announced that the school has officially purchased the historic Sam the Record Man building at the corner of Yonge and Gould Streets. In his e-mail announcement, Levy states that the Sam’s building, as well as a small office building at 110 Bond St. and the parking lot on the west side of Church Street, north of Dundas,  were purchased directly from the Sniderman family. The university also bought the old Future Shop on Yonge Street.

The four sites recently acquired by Ryerson have come at a cost of $40 million to the university, but Levy wrote they are necessary steps to give "Ryerson a gateway on Yonge Street and the opportunity to play a key role in redeveloping Toronto's main thoroughfare and downtown core."

“Almost two years ago, we declared our intention to focus on 'the University as city-builder,' and this is a step toward that goal,” Levy added in his e-mail to the Ryerson community.  “With energetic partnerships and great ideas, our aim is to move Ryerson and Toronto forward together.”

In the e-mail, Levy also said that his first priority is to provide a state-of-the-art Student Learning Centre with student space at the Sam’s location, while ensuring that the legacy of the store is honored.

Levy has not announced any plans for the parking lot and office building.