As Toronto land prices continue to skyrocket, the rumour mill has been working over time as real estate watchers play the prediction game. We all want to know: what big piece of land or age-old downtown business will be slated for redevelopment next?
Here are some of the top gossip topics that have been stirring up speculation and conversation on where the city is headed next.
581 Bloor St. W.
This one’s a doozy. Major newspapers are reporting that the iconic Annex discount store is up for sale, although David Mirvish did not care to discuss the news, or the rumoured $100 million asking price, officially. However, Store Manager Russell Lazar did confirm the space was up for sale, though later it came to light that it wasn’t just the 65-year old store that was on the market. The entire 1.8-hectare parcel of land in Mirvish Village, home to about a dozen small businesses such as The Beguiling, Southern Accent and Victory Cafe, is also up for grabs. Though nothing has been confirmed, Colliers International has been linked to the listing as have the law firm Gardner Roberts, which is thought be conducting the sale, with invitation only bidding.
Photo: Tricia Wang/Flickr
Quality Meat Packers
2 Tecumseth St.
As the area around Bathurst and Wellington has seen as steady influx of condos, many residents have turned up their noses at the abattoir, which has been in operation for about 80 years. While many argue that as the neighbourhood’s become largely residential and a slaughterhouse should have no home in the middle of a city, others have been quietly suggesting the parcel of land has already changed hands. Thus far, there have been whisperings that developer Peter Freed currently has the space under contract, meaning he could hold onto it or drop it at any moment.
132 Queens Quay E.
As a number of other Entertainment Districts clubs have gone condo, there’s been some chatter over whether other big venues in the city could follow suit. One rumour that’s been around for some time recently took on new life. In November 2012, Mark Holmes, the owner of The Mod Club, mentioned on the Zach Bussey show that The Guvernment was set to become a condo. Development rumours carried over to 2013, with the Guvernment’s hitting back on Twitter with, “You all know better than to believe a rumour that has been circulating for over ten years.” Still, that gossip has been hard to quell, especially since a Toronto Star columnist recently wrote that the site at Queens Quay and Jarvis site had been sold to a developer. Charles Khabouth, aka Toronto’s Entertainment King, is the CEO of Ink Entertainment, which owns The Guvernment. Since Ink has already entered the development game by joining forces with Lifetime Developments on Bisha Hotel and Residences, there’s plenty of speculation whether they’ll join forces again.