Most of its assets are located in Canadian urban centres, and are sold after the CLC revalued the property by providing managerial support and subsidizing immediate costs such as decontamination.

Its original function was to act as "an intermediary handling public land development, leases, permits, title transfers, etc.

[2] In the late 1980s and early 1990s, the government of Canada adopted legislation and policies that encouraged the sale of public lands and assets.

[4]: 337 In the 2010s, CLC's major projects were the operation and development of the CN Tower and surrounding areas, and the redevelopment of decommissioned Canadian Forces bases across Canada into pricey residential units.

[5] The goal of the corporation as determined by Cabinet since 1995 has been to ensure "the commercially oriented, orderly disposition of surplus properties with optimal value to the Canadian taxpayer".

[2] The CLC also subsidizes the initial costs of developing the property, such as "the removal of debris and contaminated soil or other environmental hazards.

[4]: 69  Unlike other government agencies, it is able to borrow money from capital markets, use letters of credit, and hold cash and other short-term financial instruments.

"[2] This portfolio subsequently increased in size as the Department of National Defence (DND) began closing military bases across the country after the end of the Cold War.

[20] Canada Lands entered into a Participation Agreement with the Algonquins of Ontario for the redevelopment of the former CFB Rockcliffe in Ottawa, now known as Wateridge Village.