Blue Diamond Condos (129 St. Clair Av W, Camrost-Felcorp/DiamondCorp, 27s, DSAI)

Discussion in 'Projects & Construction (high and mid-rise)' started by Observer Walt, May 19, 2010.

  1. Observer Walt

    Observer Walt Senior Member

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    The former Deer Park United Church property at 129 St. Clair Ave. West (SE corner of Foxbar Road) has been sold. The handsome-looking old stone church is (I think) designated. This may be a potential conversion of the existing building rather than a completely new structure.

    The price paid is $4 million, equivalent to $142.85 per square foot of site area. This is (IMO) an astonishingly low pri ce, for this location, if a completely new building were to be planned. It lends some credence to my guess that it will be a conversion.

    It's interesting to note that it's immediately next door to the former Imperial Oil building. Two old but historically important buildings are sitting side by side in this high-class location. You could speculate about the possibilities ...
     
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  2. SimonP

    SimonP Active Member

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    Let's hope it doesn't suffer the fate of the old St. Paul's in Yorkville. That heritage building was purchased by developers, and a few years later a mysterious fire destroyed the church and tripled the value of the land it was sitting on.
     
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  3. cat

    cat New Member

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    Who is the buyer of 129 St. Clair W?

    Barnicke has informed me that the old Imperial Oil bld next door (111 St Clair W) has been sold for the purposes of condo/mixed retail development. They would not reveal the buyer as the deal has not yet closed. Lots of land behind this building.

    Could s/o be thinking of redevelopment of these 2 huge parcels of land together? Has anyone heard anything through the grapevine? Some RE agent has posted a faux registration website www.111stclair.com to troll for biz.

    Would love to save my pennies to buy here...
     
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  4. bigkiwibird

    bigkiwibird New Member

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  5. Observer Walt

    Observer Walt Senior Member

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    The buyer of the church property is Whitecastle Investments, part of a small venture capital and real estate investment firm. According to their website it was founded years ago by Eph Diamond, who at one time headed up Cadillac Fairview (now deceased). It could be that they are putting up the money but someone else will be doing the actual development, and they may have put their name on title just to protect their financial interest.

    It seems to be widely known that someone has bought the Imperial Oil property, but apparently not known by "usual sources" who it is. The deal has not yet been registered. It will certainly attract a lot of attention once details become known. Imperial Oil is a true heritage property (more so than the church, IMO); I hope it will be treated respectfully.
     
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  6. Mike in TO

    Mike in TO Senior Member

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    An application has been submitted to convert the church at 129 St. Clair Ave W to residential units as well as adding a 32s residential tower.
     
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  7. BMyers

    BMyers Banned

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  8. catcher_of_cats

    catcher_of_cats Active Member

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    Leaving Rob Fordland before it is too late.
    And another United Church bites the dust.
     
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  9. HHC

    HHC Active Member

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    Sad... and unfortunate.
     
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  10. taal

    taal Senior Member

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    Just curious, what's sad and why ?
     
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  11. HHC

    HHC Active Member

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    Because they're gonna butcher the church until little or no aesthetic/historic appeal will be left. Some buidling's just have to be left alone to maintain their character and dignity. This is one of them.
     
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  12. taal

    taal Senior Member

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    Are they going to keep it / is it being incorporated somehow ?

    I like the church but it's not that special - we have a lot of other churches that look just like that (particularly in this part of town)
     
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  13. adma

    adma Superstar

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    Somehow, given the nabe, I can picture a "kinder, gentler" kind of butcher job than elsewhere (eg. the upcoming thing across from Kew Gardens on Queen)
     
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  14. AnnetteMeetsJane

    AnnetteMeetsJane Active Member

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    Churches buildings which are still used as such are relatively public spaces and it is possible for anyone to walk around enjoying the building and contents. Once they are bought by a developer they go out of the public realm. Buildings which were once an important part of their neighbourhood are lost to the community as spaces and at best only contribute to the street scape .
     
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  15. investican

    investican Active Member

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    The project will have the Church converted into mixed-use and a very thin tower behind it.

    Whitecastle's Urban Intensification Fund has purchased the project and once fully re-zoned it will be sold to a developer.
     
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