New building to be located in heart of downtown.

Toronto was selected by the Canadian Academy of Recording Arts and Sciences (CARAS) today (May 17) as the site of the new Canadian Music Hall of Fame (CMHF).

A new $38 million (Canadian funds) shopping and entertainment center, currently under construction, will house the three-floor 60,000-square feet CMHF.

The building is located in the city's well-known Record Alley at the downtown intersection of Yonge and Dundas streets, near flagships stores of music retailers HMV, Sunrise Records, Sam the Record Man and a proposed Virgin Megastore, which will also be housed in the complex.

After CARAS called for bids in June to host the CMHF, Toronto edged out nearby Hamilton, Ontario and Winnipeg, Manitoba, for the honors. The hall will include interactive exhibits, stores and administration offices.

"All the proposals were unique and represented a diversity of ideas and suggestions but Toronto clearly illustrated the greatest potential for site traffic," says Ross Reynolds, chairman of CARAS and chair of the CMHF Committee.

Adds Spinning Wheel Design president Peter Tillman, the prime project director for the Toronto bid, "Our team is ecstatic over the announcement that we have been chosen as designers and the winning bidders for such a prestigious offering as Canada's Music Hall of Fame."

It was also announced today that CARAS has also welcomed the Canadian Songwriters Hall of Fame as a partner in the CMHF.

The CMHF Committee is now investigating the possibility of erecting branches of the Canadian Music Hall of Fame in other Canadian communities in the future.