This morning Streetcar Developments announced that they purchased the Broadview hotel located at Queen and Broadview.
We recently did a feature on the broadview hotel through the years and it looks like more changes are coming. The building is not being torn down, and Streetcar says they do not plan to turn the building into condos. We can expect a change in tenants – Jilly’s and the hotel occupants will vacate the property so that the restoration can be completed.
Here is the press release
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 Broadview Ave.
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 Toronto’s history.”
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 community.
“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.”