Osmington co-owns Eastgate Square and Centre Mall with the Canadian Pension Plan investment board and Schott, who grew up in the city's east end, said the company has helped develop other sports facilities.

The Toronto-based company is part of a private-equity group which built the $133-million MTS Centre, a hockey arena in Winnipeg.

Schott said he has looked at the six sites the city once offered as a short list as well as the Lafarge slag operation on Windermere Road.

He noted it offered high visibility due to being close to the Queen Elizabeth Way.

City Councillor Bernie Morelli considers it the primary Plan B site if the west harbour plan doesn't work out.