The County of Simcoe has purchased the former Orillia District Collegiate and Vocational Institute.
The six-acre property will become the future regional community services hub in the sunshine city.
"We look forward to working with both the City of Orillia and our residents to redevelop this property into a community service hub that could address multiple areas of need in Orillia and the surrounding Townships, greatly benefitting residents for generations to come," said Mark Aitken, Chief Administrative Officer, County of Simcoe.
The county says the deal will bring critical investments to affordable housing, long-term care, paramedic services and other community services.
The agreement also protects the existing student memorial arboretum.
The county says the old building will be torn down immediately.
A public consultation is scheduled for 2019 to determine timelines for construction, building design and services that will be offered.