A True Toronto Loft Conversion
By Terrence Belford - The National Post
True loft conversions are hard to find in Toronto these days. The problem, of course, is there were never that many old factories or warehouses suitable for conversion into funky lofts in the first place. If old factories stood on fair-sized pieces of land, it was usually cheaper and easier to level the building and start over. Conversion to lofts is not an inexpensive prospect.
Every now and again, however, an entrepreneur stumbles across the right kind of building in the right location. That is what happened to George Powers. His main business is antiques, but, in the past, he has tried his hand at real estate. When he had the opportunity to step into Wallace Station Lofts, he jumped at the chance, he says.
The project was already underway at the time. He bought out of offers of the bulk of the buyers and decided instead of a low-end loft conversion, he would turn Wallace Station Lofts into a showplace preserving all the original architectural elements such as exposed brick and cast-iron hardware as well as the post-and-beam Douglas Fir construction. Powers has further enhanced the building by adding other older elements such as a magnificent antique, solid oak door with leaded glass panels and brass hardware for the front entrance and some 1850’s Parisian iron rondelles from his personal collection of antiques to decorate the fence he designed for the perimeter of the property and the Juliette balconies.
From the beginning of his Wallace Station Lofts re-design, Powers has insisted on a strong emphasis on outdoor space by way of creating patios, roof-top gardens, decks, balconies and terraces. Even European-style hanging flower boxes are planned for the front facade of the building to allow everyone access to at least a little bit of soil for planting something they love, a philosophy reflecting his own appreciation for horticulture and landscaping as a member of The Royal Botanical Gardens.
He hired well-known and experienced, quality developers, Terradigm Development Ltd. as his Wallace Station Lofts project managers and set to work turning a four-story, 70-year-old postage stamp glue factory into 34 luxury lofts and an adjacent garage/warehouse into five coach house lofts. Eventually, he will also build five new town homes on the property.
Right now, the building is sold and occupied, and the buyers were able to decide on details of interior design. That is one of the things setting Wallace Station Lofts apart from most loft projects in town. Since the developer is working with ceilings that run as high as 14 feet on the main floor, buyers have a lot of latitude when it comes to creating and customizing their own space.
Some have already been made into two- and three-level living spaces, says Harold Spring, project manager. Others have what amounts to a ground floor and a mezzanine suspended above it. All have huge industrial-style windows. There are even working fireplaces in many of the larger units.
The luxurious coach houses range from a cozy 798-square-foot, one-bedroom-plus-den unit to a 1,152-sq-ft, two-bedroom suite. All of the coach houses also have roof-top gardens. In the main building, the smallest unit is a 625-sq-ft, bachelor pad and the largest a two-bedroom plus den, weighing in at 1,869 sq ft. Surface parking was included for almost all units.
The charm of industrial conversions usually means living in an industrial neighbourhood or one undergoing a transition. That is the case here. Wallace Station Lofts, which draws its name from a nearby old train station and the proximity of both GO train and subway stations, is situated on Wallace Avenue, two blocks north of Bloor Street West and a block west of Symington Avenue, just down the street from Wallace Studios, used by movie industry production companies and stars of the silver screen. It’s also very close to High Park, Bloor West Village and the Roncesvalle neighbourhood.
“That is part of the charm for the buyers to date,” Mr. Powers says. “They all seem to be either young professionals or own their own companies. They have the money to live wherever they choose, but, wisely, they choose Wallace Station Lofts.”
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