Restoration of heritage building an investment in thriving community of
TORONTO, May 13, 2014 /CNW/ - As part of its commitment to foster
culturally rich and liveable communities in the downtown core,
Streetcar Developments is proud to announce its latest acquisition: the
purchase of The Broadview Hotel, at the corner of Queen St. East and
As the new owners of a treasured landmark within Toronto's downtown
landscape, Streetcar's first priority is to address significant
structural issues within the building. In late 2013, the City's
Buildings department issued an Emergency Work Order for immediate
temporary structural measures in order to secure the building. To
complete the permanent repairs in a safe and timely manner, the current
tenant, Jilly's, whose lease was due to expire, will be vacating the
property along with the hotel occupants.
"We have great affinity for the neighbourhood and we believe this
building is a jewel of Riverside," says Les Mallins, President and CEO
of Streetcar Developments. "We will first be focusing all our efforts
on making the building safe and restoring it to reflect its place in
Streetcar has developed a number of well-known buildings in the downtown
core. In every case, the company endeavours to complement the
surrounding architecture and enhance the feel and livability of the
"Streetcar is based in Riverside, so this neighbourhood has a special
place in our hearts," adds Mallins.
"Although rooted in loft development, Streetcar does not see this
building as a residential condominium project. We are in the early
stages of planning, but our focus is to revive this building to a
landmark everyone in the area can be proud of."
ABOUT STREETCAR DEVELOPMENTS
STREETCAR has established itself as Toronto's premier developer of
mid-rise condo buildings located in culturally rich, livable downtown
neighbourhoods. Its core philosophy - Rethink Urban Living - reflects
the belief that projects must integrate seamlessly with their
neighbourhoods and enhance the lives of the entire community. Its
developments, spanning from exclusive Beach to hip Queen West, play
keys roles in transforming many of Toronto's up-and-coming
neighbourhoods. Since its first projects in 2002, Streetcar continues
to prove that combining contemporary design with an unwavering respect
for neighbourhoods and historic architecture can make Toronto one of
the world's most vibrant and livable cities.
For more information on Streetcar, please visit - www.streetcar.ca or Twitter- @STREETCARlofts.
SOURCE: Streetcar Developments
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