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491 College St (former Latvian House, Allied & RioCan, 3s, Turner Fleischer)

AlbertC

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http://toronto.curbed.com/archives/2014/02/04/could-another-riocan-battle-be-brewing-in-little-italy-.php

Allied Properties and RioCan have acquired 491 College St. and 289 Palmerston Ave. in Little Italy for $7.7 million. This might be another fight for downtown residents who are already battling RioCan over a proposed Walmart near Bathurst and Dundas. 491 College is the site of the Latvian House heritage building which was built in a classical revival style in 1910. The properties are currently being rented out (probably only as a parking lot), but the new owners intend to intensify the property over time by creating a mixed-use office, retail and residential complex.
Conceptual development potential for the site here:

http://www.ashlarurban.com/wp-content/uploads/2013/11/491CollegeSt-Teaser.pdf

Side note: La Carnita is a nice restaurant @ 501 College.
 

mrxbombastic

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God that's hideous. I'm all for messy urbanism and incorporating facades when its done right but this is an abomination. They might as well just paint the facade with some frosted glass, would probs look better too. The building needs some tlc no doubt but this isnt how you do it. hopefully these renders have no bearing on the fina product
 

AlbertC

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k10ery

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Uh oh. Can anybody explain what this means? Why for example is this about a three story building, when the original render was taller? And does this definitely mean they want to demolish and facadomize Latvian House?
 

Automation Gallery

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Uh oh. Can anybody explain what this means? Why for example is this about a three story building, when the original render was taller? And does this definitely mean they want to demolish and facadomize Latvian House?
http://app.toronto.ca/DevelopmentApplications/associatedApplicationsList.do?action=init&folderRsn=3748799&isCofASearch=false

491 COLLEGE ST
Ward 19 - Tor & E.York District

A new 3 story building having a total gross floor area of 2,274m'(based on gross floor area as defined by By-law 569-2013). The ground floor of the proposed building will include 784 m' of retail space and a lobby for the 2nd and 3rd floor commercial spaces.

I believe they are talking about a new bldg. on that surface parking lot

 

k10ery

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^Thanks AG. I did a little digging, and RioCan reports they are spending $10 million to renovate the existing Latvian House, with the future tenant being LCBO. So could this mean the existing building envelope will stay in place, and a new building of no more than 3 stories will be built on the parking lot?

From the neighbourhood's perspective that sounds ideal. But could the developer really be going for so little here?

Edit: Could that $10 million include the new building? It's budgeted for 2017. http://investor.riocan.com/files/documents_presentations/2014/Q4/Q4-2014-Investor-Presentation-VFINAL.pdf
 
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