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Building assets out of liabilities.
A venerable pile belonging to CIBC at the corner of Bathurst and Queen Sts. in Toronto was among the first to be recycled. It was sold in 1994 to St. Christopher House, a charitable organization, for use as a drop- in centre for the homeless. The price of $250,000 was roughly a quarter of the market value of the property. "Without CIBC's contribution," said Gordon Morwood, then executive director of St. Christopher House, "it would have been far beyond our reach."
In Montreal, a Bank of Montreal branch has been transformed into the venue of a project to help kids build employment skills through familiarity with current computer hardware and software.
Called …
