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Tag Archives: yonge st

Saving Toronto’s heritage buildings the smart way

Raja Mous­saoui – Toronto Star

The debate over how Toronto can absorb more peo­ple while pre­serv­ing old land­marks is unfold­ing in two very dif­fer­ent ways near the inter­sec­tion of Yonge St. and Eglin­ton Ave.

Well-publicized protests over the sale of Postal Sta­tion K to a pri­vate devel­oper high­light the tra­di­tional bat­tle between her­itage con­ser­va­tion and the demand for development.

But around the cor­ner, on Eglin­ton Ave., city plan­ners are test­ing a new con­cept to cre­ate more liv­ing space with­out destroy­ing much-loved old buildings.

This type of hybrid archi­tec­ture is being adopted in cities older and more dense than Toronto, such as Lon­don, Eng­land, and New York. The idea is sim­ple enough: Cre­ate rel­a­tively small, con­tem­po­rary exten­sions and slot them into and around his­toric mid-rise build­ings. Design experts call it “a del­i­cate adding of density.”

In Toronto, a new city plan­ning pol­icy that encour­ages this type of devel­op­ment is grad­u­ally gain­ing atten­tion. “It’s the first time the city has been pro-active in terms of artic­u­lat­ing the kind of devel­op­ment that we haven’t seen but that we want to see,” said Lorna Day, project man­ager for the Avenues and Mid-Rise Build­ings Study, which was endorsed by city coun­cil in 2010.

The study takes the gen­eral guide­lines set out in the Offi­cial Plan and applies to Toronto exam­ples of her­itage con­ser­va­tion tech­niques found in a num­ber of cities around the world.

Through this process, the city has decided that Toronto’s so-called Avenues (main arte­r­ial roads such as Eglin­ton Ave.) should grow through mid-rise devel­op­ment. The plan is to imple­ment zon­ing laws that enforce that decision.

We cer­tainly don’t need tow­ers on the Avenues,” Day said.

The con­tro­versy over Postal Sta­tion K points to the wide­spread con­cern about los­ing sig­nif­i­cant her­itage build­ings to condo tow­ers. Local res­i­dents ral­lied but failed to stop the sale of the postal station.

The site of Postal Sta­tion K, an Art Deco build­ing built in 1937, has a long his­tory. In 1837, it was the site of Montgomery’s Tav­ern, where William Lyon Macken­zie orga­nized, launched and ended the Upper Canada Rebel­lion. The devel­oper has promised to work with res­i­dents to find a solu­tion every­one can live with.

Over the next few months, Day’s team will use these mid-rise per­for­mance stan­dards to deter­mine the new zon­ing reg­u­la­tions for Eglin­ton Ave.

Addi­tion” rather than just “ren­o­va­tion” is the name of the game.

Retain­ing a neighbourhood’s his­tor­i­cal char­ac­ter while adding more den­sity has its chal­lenges. There are sev­eral rea­sons why the hybrid model is not char­ac­ter­is­ti­cally seen in Toronto.

Ren­o­vat­ing an exist­ing build­ing poses risks: The build­ing may not be struc­turally sound and it may not meet build­ing code require­ments. Both prob­lems can quickly com­pli­cate a ren­o­va­tion and spike costs.

Janna Levitt, prin­ci­pal at Levitt Good­man Archi­tects, a Toronto firm with exten­sive expe­ri­ence in con­ver­sions of old build­ings, said that 15 years ago, devel­op­ers were unwill­ing to ren­o­vate and add to a his­toric build­ing. But now, with land val­ues so high, a devel­oper may be will­ing to absorb the cost of work­ing with a her­itage build­ing in a desir­able – and thus prof­itable – location.

Even now, devel­op­ers will­ing to restore her­itage build­ings will often do so only if they can incor­po­rate it into a tall build­ing that will yield the max­i­mum amount of density.

We don’t con­trol the eco­nom­ics,” said Day. “What city plan­ning can do, through coun­cil, is to give pre­dictabil­ity and cer­tainty … It doesn’t guar­an­tee the devel­op­ment indus­try will build it, but it does help the speed with which a devel­oper can go from an idea to a building.”

SHoP Archi­tects, a New York City firm, worked closely with city plan­ning offi­cials there to com­plete two hybrid mid-rise projects: The Porter House, in Manhattan’s Meat­pack­ing Dis­trict, and the Gar­den Street Lofts in Hobo­ken, N.J. Both projects com­bine robust, his­tor­i­cal ware­houses with addi­tions of con­tem­po­rary res­i­den­tial units.

A lot of these ware­houses are incred­i­bly flex­i­ble and can han­dle addi­tional weight,” said Christo­pher Sharples, prin­ci­pal at SHoP Architects.

One Toronto exam­ple of this hybrid form is the Print­ing Fac­tory Lofts, on Car­law Ave. near Queen St., where an early 20th cen­tury ware­house was topped with a mod­ern steel and glass exten­sion that raised the entire build­ing to a height of eight storeys.

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Con­tact the Jef­frey Team for more infor­ma­tion – 416−388−1960

Lau­rin & Natalie Jef­frey are Toronto Real­tors with Cen­tury 21 Regal Realty.
They did not write these arti­cles, they just repro­duce them here for peo­ple
who are inter­ested in Toronto real estate. They do not work for any builders.

—————————————————————————————————–


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  • Toronto condo’s musical theme inspired by Massey Hall

    Sydnia Yu – The Globe and Mail

    Directly across from the Eaton Centre in the heart of Toronto’s downtown core, a historic bank was boarded up and abandoned 25 years ago. But plans to transform the heritage building into a modern highrise has the public returning to make financial transactions of another kind.

    “We were one of the highest-selling projects in the third quarter with over 75% sold already,” says Gary Switzer, president and CEO of MOD Developments. “It has been very satisfying for us that we’ve rescued this building, and it’ll become part of a new development.”

    Hariri Pontarini Architects designed this 60-storey residence with fritted glass and sculptural balconies surrounding 698 suites above a four-storey portion of the bank, which was one of three constructed for the Canadian Bank of Commerce along Yonge Street between Queen and Shuter streets circa 1905.

    Massey Tower and the old Canadian Bank of Commerce

    Massey Tower and the old Canadian Bank of Commerce

    “People don’t want to live in another condo tower; here’s something with personality and quality,” says Mr. Switzer. “We’ve used one of the best modern architects to do the tower itself, which is a stunning, articulated tower behind the old bank, so you get this combination of old and new, which is great.”

    Just as the exterior will be restored, the developer refurbished intricate mosaic floors, vaulted ceilings and plaster mouldings showcased inside the sales centre, which will eventually become the residential lobby with concierge and a porter.

    “It’s probably the grandest entrance to any condominium in Toronto,” Mr. Switzer states. “And Cecconi and Simone have done a hip version of Edwardian architecture with chandeliers to play on this whole theme.”

    Though buyers may not be familiar with the interiors, it is likely many walked past the landmark at 197 Yonge St., which is just steps from hundreds of shops and restaurants in and around the Eaton Centre, major theatres and event venues, as well as several hospitals and universities.

    Massey Tower in the heart of downtown

    Massey Tower in the heart of downtown

    “It’s a great location,” Mr. Switzer adds. “It’s literally right at the Queen subway stop … but a lot of people living here will walk to St. Lawrence Market, Queen West and the Financial District.”

    For those who go further distances, GO and VIA train stations, Billy Bishop Airport and highways are all nearby. The project’s name and music-themed art also pays homage to its famous next-door neighbour, Massey Hall, which will be given a parcel of land from the Massey Tower site.

    “They can finally do an addition and renovation of Massey Hall, which they’ve never been able to do because they were land-locked,” says Mr. Switzer. “It’s cool that we can help out this national institution.”

    The building will also be a beacon of activity with fitness studios, a juice bar and treatment room on the ninth floor, plus a cocktail lounge, dining room, piano bar and dance hall surrounded by a rooftop terrace on the 10th floor.

    “Instead of another boring party room, we set it up [as] a place where you can have a proper party and have live music,” Mr. Switzer explains.

    To entertain or relax in privacy, there will be one- to three-bedroom suites – though buyers have combined two to create larger spaces – with open principal rooms and nine-foot ceilings. Cecconi Simone will assemble three finishing packages with sleek, Euro-style appliances, contemporary kitchens cabinetry and granite, composite stone or Corian countertops, among other luxury finishes.

    Monthly fees will be 53 cents per square foot and parking priced at $69,000 for suites over 800 square feet. Occupancy is slated for November, 2016.

    —————————————————————————————————–
    Contact the Jeffrey Team for more information – 416-388-1960

    Laurin & Natalie Jeffrey are Toronto Realtors with Century 21 Regal Realty.
    They did not write these articles, they just reproduce them here for people
    who are interested in Toronto real estate. They do not work for any builders.

    —————————————————————————————————–


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  • Toronto Star office parking lot set to succumb to city’s condo craze

    Garry Marr – Financial Post

    The Toronto Star parking lot is about to become the latest piece of land to succumb to the city’s condominium craze, according to multiple sources.

    A deal is expected to close in the coming days that would see Vancouver-based Pinnacle International Realty Group develop the project which is expected to include up to three towers. The existing office tower at One Yonge St., home to the Toronto Star which has a long-term lease for its space, will not be impacted by the development.

    “The actual Toronto Star building will not be touched,” said a source close to the deal, who did not want his name used. The newspaper has options which could extend its lease another 20 years.

    The price tag for the current deal is expected to far exceed what the building sold for about 12 years ago.

    Torstar Corp. said in August 2000 that it had sold One Yonge Street to a private holding company represented by Osmington Inc. which is controlled by the Thomson family. The sale netted Torstar $40-million and produced a gain of $22-million.

    “It will be far north of that,” said one source close to the deal, in reference to the latest sale price.

    At the time of the deal, Osmington indicated the newspaper had a long-term lease at One Yonge St. but the real estate company was “looking at what we can do with the parking,” noting its location close to the Air Canada Centre, which had just opened a year earlier.

    Torstar bought the building in 1996 from a creditor group but sold it shortly afterward, describing the building as a non-core asset and saying the strength of the real estate market at the time created an opportunity for the sale.

    “I’m sure it will be something iconic,” said a source. “They are planning multiple towers. It will be a major Yonge Street address with great water views.”

    The revitalization of the waterfront near Yonge has made the area ripe for development, said the source. “Investors are looking for more triple A projects than just run-of-the-mill projects. It makes sense to locate close to transit, close to the subway.”

    One industry developer said the land could be worth as much as $70 to $75 per buildable square foot in today’s real estate market. “It’s a big lot, so we are talking very big numbers,” said the developer.

    —————————————————————————————————–
    Contact the Jeffrey Team for more information – 416-388-1960

    Laurin & Natalie Jeffrey are Toronto Realtors with Century 21 Regal Realty.
    They did not write these articles, they just reproduce them here for people
    who are interested in Toronto real estate. They do not work for any builders.

    —————————————————————————————————–


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