A Toronto councillor wants the city to consider a bid to become the host city for the 2022 Commonwealth Games.

Ward 10 Coun. James Pasternak plans to table a motion at next week's city council meeting asking city staff to look into the feasibility of Toronto entering the bidding process.

"The big opportunity for us is that we just hosted the Pam Am Games and the fact that we’ve invested $2.5 billion in athletic assets and arenas and fields means that we could host the games for little extra cost," Pasternak told CP24 Sunday.

He added that he would not support a bid unless it made "financial sense" for the city.

"Transit and housing and other issues around the city are major priorities. The question is can the city manager come back with a plan that makes financial sense, that puts the city into the international spotlight, that makes sure that we realize tens of millions of dollars in tourist dollars and we boost the local economies. Unless we reach those goals, I don’t think we should proceed," he said, adding that the other levels of government would need to "come along as partners."

In terms of the actual cost for the bid, Pasternak said he would like to see the private sector "come to the plate."

"At this juncture, it is the city manager’s responsibility to see what the prospects are for bidding at this late stage and what a bid would cost," he noted.

The request comes less than two weeks after Durban, South Africa lost the rights to host the sporting event.

In a statement released on March 13, the Commonwealth Games Federation said the decision to find a new host city came after a detailed review was conducted on whether Durban’s proposal was consistent with the original bid commitments.

“It is with disappointment that the detailed review has concluded that there is a significant departure from the undertakings provided in Durban’s bid and as a result a number of key obligations and commitments in areas such as governance, venues, funding and risk management/assurance have not been met under the revised proposition,” the statement read.

Mayor John Tory said it is unclear whether Toronto would have enough time to prepare for this type of event.

"It’s not just a matter of saying, well we have a pool, we have a track, so let’s have a few people over to have some games. There is a lot involved in this in terms of security and other kinds of things," he said Sunday.

"Before I take any stand on this, I want to take a look at those things and be very careful about this."

Councillors will consider Pasternak's proposal during next week's meeting, which begins on Tuesday at 9:30 a.m.