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761 Queen St West (Anthropologie, Quadrangle) COMPLETE

urbandreamer

urbandreamer

recession proof
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http://www.metronews.ca/toronto/local/article/822519--move-may-be-a-blessing

An old church sits at 761 Queen St. W. in the midst of a rapidly gentrifying strip, an unnoticed relic of a neighbourhood's forgotten past. It's not a house of religion anymore, it long ago traded the promise of an afterlife above for the hope of a better life here and now.

But, sadly, its days are numbered.
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....

The current tenants will soon be shown the door, making way for yet another trendy condo tower.
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Any locals with more info do tell! I used to hang out here--lived down the street from it and friends hold events here fairly often. Will they keep the old church building or knock it down?
 
Isn't there a height restriction on Queen?

Anyways, loft conversion would be the most acceptable solution. Facadism a distant second.
 
Although, now it looks like there aren't plans to turn this into a condo (anymore). Will be converted into commercial retail usage.

http://www.thegridto.com/life/real-estate/know-vacancy-761-queen-st-w/

In Sept. 2011, R & B Properties owner Daniel Rumack purchased the space from the Toronto United Church Council, however, the current tenants will remain onsite until their lease ends in Dec. 2012. The current landlord for 651 Queen St. W. (formerly the Big Bop), Rumack was instrumental in turning the space into a branch of Crate & Barrel’s sister store CB2, which will be opening up at Queen and Bathurst in the next few months. Similiarly, he will be looking to convert 761 Queen St. W. into a commercial retail property.
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There has already been a great deal of interest from prospective tenants since Rumack’s acquisition a few months ago, but for the most part it has been smaller companies, like coffee shops, looking to find a home in the property. Rumack is not interested in turning the former church into a condo and he’s stated that he would like to see one big retailer take over the majority of the space rather than divvy up the large building. R & B Properties has currently hired the Northwest Atlantic real-estate consulting firm—which represents everyone from Adidas and Apple to The Gap and Whole Foods—to canvas the market and find a suitable future tenant. Rumack is hoping to secure one in the next six months.
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urbandreamer said:
Interesting. I really wonder how well it will do though? (Queen West fashion retail seems to be dying.)
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I've noticed that with the mainstream stretch, east of spadina, but not west of spadina ? i.e. that area seems to still be doing well ! Could be wrong, this was from long walk earlier this summer ?
 
taal said:
I've noticed that with the mainstream stretch, east of spadina, but not west of spadina ? i.e. that area seems to still be doing well ! Could be wrong, this was from long walk earlier this summer ?
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It's "dying" because success is driving up rents. So Comrags moved up to Dundas, and there are a lot more stores selling corporate fashion. But in all it's still a good mix IMO.
 
That's a great looking treatment. If they re-purposed all the heritage buildings along Queen West and managed to fit in some residential, that would be great. It's especially important that the city and developers get good at this before they attack Parkdale which has a huge swath of attractive heritage buildings as seen below.


parkdale.jpg
 
I live in the area, and this area is far from dead - it seems like this sort of thing was inevitable as the rents just keep climbing in the area.
 
Everything west of Spadina looks to be doing well or even too well, it's the original section of Queen West between University and Spadina that looks to have declined somewhat in the last few years. It's not bad but just declined from the peak around the early 2000's. It might just be that the landlords are charging too high rent because in theory the retail environment should improve as the population of the area is exploding.
 
TrickyRicky said:
Everything west of Spadina looks to be doing well or even too well, it's the original section of Queen West between University and Spadina that looks to have declined somewhat in the last few years. It's not bad but just declined from the peak around the early 2000's. It might just be that the landlords are charging too high rent because in theory the retail environment should improve as the population of the area is exploding.
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Yep I think this should be evident to anyone who walks along the stretch east of Spadina ; )

Hence I was asking people in the know about the area to the west, is it also suffering a similar fate.

Now rents have been dropping in the area to the east, so hopefully that'll help other tenants come back into the mix.
 
taal said:
Yep I think this should be evident to anyone who walks along the stretch east of Spadina ; )

....Now rents have been dropping in the area to the east, so hopefully that'll help other tenants come back into the mix.
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dont know what the rents are now east of Spadina, but IIRC they were asking over $100 psf 3xnet
 
cdr108 said:
dont know what the rents are now east of Spadina, but IIRC they were asking over $100 psf 3xnet
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There was a recent report by cbre or the like citing it was one of the only strips in Toronto to see rents decrease the last while, I'll try to find it ... that makes sense though.

Its facing something similar to Robson street in Vancouver which has also seen rental rates fall for essentially the exact same reason.
 
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