131 and 151 Bloor Street West (?,?,?)

An apparent appraisal / development potential analysis of the existing Colonnade Building. Perhaps we should call this one 'bullet dodged'? 'Disaster averted?' In any case, it's interesting to know that the property was / could still be in play. Let's just hope that Vic decided the existing structure, one of the first residential concrete high-rises in the city, was worth retaining.

"Bousfields was retained by Borden Ladner Gervais LLP on behalf of Victoria University who were engaged in an arbitration with its ground lease tenant for the properties at 131 and 151 Bloor Street West.

Bousfields was responsible for prepare a Planning Analysis to assist in the assessment of the properties’ development potential, assuming them to be vacant and unimproved. This analysis included a review of permitted uses, density, height and access, among other matters regarding the existing and emerging planning policy framework as of the applicable Lease renewal date. In addition, Bousfields was responsible for providing professional land use planning testimony at the arbitration hearing. The arbitration process is now complete."






Source

Ugh. Nothing is sacred.

Designated heritage in 1983.

That's a pretty quick designation considering the building was only 20 years old then.

Sounds like there was some dispute with tenants where by showing the development potential of the land the colonade sits on was a key part of the landlord's arguement. I see very little potential of a development application here.

And the fact that "tenants" (i.e. residential) are involved complicates matters further. (OTOH despite the thread title, it's interesting that 151 Bloor is pretty much left alone in the renderings.)

Sounds like there was some dispute with tenants where by showing the development potential of the land the colonade sits on was a key part of the landlord's arguement. I see very little potential of a development application here.

Click to expand...

Yea...it looks to me as though the owners of 131 & 150 Bloor lease the land from the University, and the University is renegotiating those leases and just intends to maximize their position by pointing out the potential of the land.

But Morguard does own the Colonnade, which makes me nervous.