Have you seen these?
Gorgeous, authentic, hard-loft condos, with open concept layouts, soaring 12-foot ceilings, exposed brick walls, and timber ceilings. All in the heart of Liberty Village in a century-old building.
These lofts would be in constant demand, in our red-hot 2015 Toronto market. Yes, they would be in demand, if they existed.
“Carpet Factory Lofts” don’t exist. But will they, one day?
Toy Factory Lofts
Feather Factory Lofts
Candy Factory Lofts
Printing Factory Lofts
Garment Factory Lofts
Notice a theme?
While lofts might be a niche part of the condominium market, it’s clear as day that what developers construct in 2015, or 2010, or even 1990, can’t hold a candle to what was built 100-years-ago.
And at one point, I would have been of the opinion that just about every century-old building left in Toronto would one day, become a condominium loft conversion.
The problem as I see it now: is this project big enough?
If a developer paid for that site on Mowat Avenue where the Toronto Carpet Manufacturing Company building currently sits, would they make more money turning that gorgeous, early-1900’s building into authentic hard lofts? Or would they make more money by tearing it down and building four 35-storey towers in its place?
That is the only thing standing in the way of this beautiful building becoming residential living one day. Well, that, and the fact that York Heritage Properties, who own the building, are in the business of leasing space, and not building condos. They’ve also clearly put a ton of money into the building, and the price for a developer to acquire the site might not be attractive.
This could be one of the most impressive hard-loft conversions in the city of Toronto, but only time will tell what will happen with the site.