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Gansevoort Hotel & Condos 
60 Mill Street, Toronto
Developer: Cityscape, Dream (formerly Dundee Realty)

Gansevoort Hotel & Condos (60 Mill St, Cityscape/Dundee, 34s, Saucier + Perrotte)

Discussion in 'Projects & Construction (high and mid-rise)' started by yyzer, Apr 13, 2011.

  1. yyzer

    yyzer Senior Member

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    It seems that Gansevoort Hotels are still interested in Toronto - this time planning a property in the Distillery District....from HotelNewsNow.com

    Gansevoort Pursues International Growth
    April 13, 2011

    NEW YORK—Gansevoort Hotel Group, a company known for its luxury hotel accommodations and innovative partnerships in restaurant, beauty and fashion, is actively seeking opportunities to grow its urban resort concept outside the United States.

    According to company executives, several deals are in the works in Canada, Europe, Asia and South America to bring additional hotels to the Gansevoort Hotel Group’s portfolio. Much like the company’s existing assets, these new developments will feature resort-like amenities in desirable metropolitan locations. Currently, the company has three assets: the newly opened Gansevoort Park Avenue NYC, the flagship Gansevoort Meatpacking NYC Hotel and the Caribbean resort Gansevoort Turks + Caicos.



    Michael Achenbaum Father and son team William and Michael Achenbaum, along with partner Arik Kislin and COO Elon Kenchington, are leading the charge for the expansion. The group is pursuing development deals, re-flagging opportunities and potential management contracts for properties that would meet the high level of standards that define Gansevoort—luxurious accommodations and unique dining, shopping and nightlife experiences.

    The group is solidifying a deal in the distillery district in Toronto, according to Michael Achenbaum. The project is slated to have approximately 100 keys and will be a combination of a landmark building and a newly built structure.

    “We are very excited about this deal because the area is very similar to the Meatpacking district in New York City where the first Gansevoort was born. It is an eclectic area, an area that is starting to ‘arrive’ and we like being a part of that,†Achenbaum said.

    Achenbaum, also a licensed attorney, likes to get involved in the details of each project from the ground up, including the layout, design and selection of retail and food & beverage partners.

    “We really are developers at heart,†he said, noting the more than 30 years of hotel development experience the team shares.

    In Toronto, for example, the executives are taking a hands-on approach to ensure that the property will not only meet the criteria to be a Gansevoort hotel, but will also perform well from an operational standpoint. The company likely will have an equity stake in the project as well, “to show how committed we are,†according to Kenchington, who works closely with Achenbaum when hammering out new deals.

    “We have a good business model and believe in it,†Kenchington said. “We have such a passion for what we do. We are very successful in how we set up and run hotel properties. We are working very closely with our partner in Toronto to ensure it is profitable.â€


    The lobby at the Gansevoort Park Avenue. However, part of Gansevoort Hotel Group’s success also is knowing when to step back and give partners space. Achenbaum is keen on selecting extremely sought-after and successful food-and-beverage, beauty and fashion partners, but does not micro-manage them. Instead, his style is to strike a deal that allows the hotel to get steady income, while allowing the partner to excel in the business in which they hold their expertise.

    For example, the urban resort concept at the Gansevoort properties in New York includes an Exhale spa with Core Fusion yoga classes, boutiques such as LaCoste with co-branded merchandise, and unique dining offerings such as Tanuki Tavern, a Japanese izakya and sushi bar owned and operated by Jeffrey Chodorow of China Grill Management. According to Achenbaum, these outlets have been very successful.

    Gansevoort Hotel Group also is working on several third-party management deals abroad, including in London and Paris, which will likely be the next in line. Other key areas of interest are Moscow, Buenos Aires and Istanbul, Achenbaum said.

    While there is no rush to cement new deals, the team at Gansevoort is optimistic about the opportunities, particularly for third-party management deals, that exist in the marketplace today to grow their brand.

    “There are some properties that had high standards and expectations but have opened and are not performing well. Those properties may be a fit for Gansevoort,†Kenchington said.

    “As always, location is the key in any deal,†said Achenbaum. “Then it has to work operationally for us. This includes style and service, and to do those both right— that is a hard fence to straddle.†That is why Gansevoort pushes to always be the managing partner, he added.

    As for a five-year plan, Gansevoort hopes to have several deals completed in Europe and Asia, with presence in major cities from which the brand’s clients come from and are interested in as destinations, said Achenbaum.

    TAGS: Gansevoort Hotel Group, Michael Achenbaum, Elon Kenchington

    http://www.hotelnewsnow.com/Articles.aspx/5341/Gansevoort-pursues-international-growth
     
    Last edited: Apr 13, 2011
    #1

  2. Tewder

    Tewder Senior Member

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    Well now isn't this exciting.
     
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  3. Filip

    Filip Senior Member

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    The Distillery is a perfect fit for Ganesvoort!

    It's Toronto's vernacular of the Meatpacking district (beautiful, big industrial buildings and brick roads); Ganesvoort will feel right at home.
     
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  4. buildup

    buildup Senior Member

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    Are there any remaining historic buildings in the Distillery District that have not been converted or restored already? I wish we had more to work with.
     
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  5. interchange42

    interchange42 Administrator Staff Member

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    It's got to be here

    [​IMG]


    or here

    [​IMG]


    doesn't it?
     
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  6. Filip

    Filip Senior Member

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    ^^ I was just about to post a screenshot of those two buildings!

    They're the only remaining industrial buildings in the Distillery District.
     
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  7. SpadinaBus

    SpadinaBus Active Member

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    Awesome news, it would be a great spark to the area although a bit off the beaten path.
     
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  8. interchange42

    interchange42 Administrator Staff Member

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    With everything that is coming to this area by 2015 for the Pam Am Games... this path will definitely be beaten soon enough.

    42
     
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  9. GraphicMatt

    GraphicMatt Looking forward to a FRESH START for Toronto

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    It would be nice if they could expand the 'borders' of the Distillery to encompass Mill Street, and the buildings on the North side.
     
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  10. greenleaf

    greenleaf Senior Member

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    This building has been slated to be a hotel for a while now. I could see it here.
     
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  11. Riverdale Rink Rat

    Riverdale Rink Rat Senior Member

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    Back when Soulpepper/George Brown were looking into building the theater, Theatre Francais was part of the mix, and the theater was going to go into these buildings. Great idea by a boutique hotelier -- by the time this is ready, Mill will go right through to the new WDL park, there'll be streetcars on Cherry -- it'll be an even hotter destination than DD is today!
     
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  12. DSC

    DSC Senior Member

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    "The Distillery" is actually all owned by a property company and one of the buildings being spoken about is part of their property (the warehouse on NE corner was and still is part of the Distillery though the other one wasn't, at least recently.) See map at: http://www.thedistillerydistrict.com/visit.php
     
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  13. Automation Gallery

    Automation Gallery Senior Member

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    I guess you can add another tower to the mix.

    60 MILL ST

    OPA / Rezoning 11 219591 STE 28 OZ Ward 28
    - Tor & E.York Jun 15, 2011 --- --- --- ---

    OPA and Rezoning application to construct new 6 storey hotel with existing heritage building (Rackhouse D) and construct an additional 28 stories for new condo tower. 34 stories in total. Please note that number of suites, number of parking spaces and number of hotel rooms are yet to be determined.
     
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  14. Atlantis

    Atlantis Active Member

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    WHOA, now this is news! I like the idea of a hotel in the area. :D Which of the two heritage structures are they talking about, the one on the north east or north west of the corner of Mill and Trinity? I just google mapped the address, and I think the rackhouse if the one on the north east, but just checking to be sure.
     
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  15. interchange42

    interchange42 Administrator Staff Member

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    Yeah, so this is it then:

    [​IMG]
     
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