Old City Hall could be transformed into a new city mall in as little as five years.

The city’s Government Management Committee will consider a city staff report next Monday which recommends that “the highest and best use for Old City Hall would be conversion to a retail centre that contains a mix of food service, leisure, event and civic uses.”

The 116-year-old building, which currently houses provincial courtrooms, was analyzed by Avison Young, a real estate brokerage firm, in order to propose tenant options after the courts leave by Dec. 31, 2021.

The firm suggested the site would be ideal for an “established, respected and trustworthy entity with defined experience with historic properties, a track record of success, superior financial standing.”

The report states that a plan should be implemented within five years to “generate and maintain market interest” in Old City Hall and suggested a rental rate of $41 per square foot — not including maintenance or operating costs.

The building was declared a national historic site in 1989 and was also the proposed location for a potential City of Toronto museum.

Councillor Josh Matlow, who has long advocated for such a museum, said he’s against swapping courtrooms for food courts.

He described Toronto’s track record of protecting its heritage as “shameful” and believes moving food, fashion and beauty stores into the building would be a mistake.

“That absolutely would be a disgraceful outcome for what was for so long the seat of government for the City of Toronto,” he said.

Matlow, who walks by the “grand old building” on the way to work each day, said he’s not alone in his feelings and expects significant pushback from the public.

“It should be a public space that is used for the public interest,” he said. “We shouldn’t be shuttering the windows and locking the doors for private companies and home decor shops.”

Jasmine Cracknell-Young, a partner with N. Barry Lyon real estate consultants, said the Old City Hall site could become anything if not for its heritage status.

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She said the historic building could easily house the flagship location for an American retail giant, commercial offices or even creative space for artists studios — but not without drastic changes to its structure and façade.

“I think, in truth, the best use for it would be something like a museum,” she said. “We are still a young city and we have to remember that. We don’t have that many landmark buildings.”