Toronto 950 King West | 60.5m | 18s | Intentional Capital | Sweeny &Co

I head from a tenant that lives there when he visited me in Dec 2016 about the Saudi Arabian consortium buying the palace , but I heard it would be used as an office building ,for a tech company ,any way that place needs to be sold with a unhealthy 80 year old owner and a career criminal manager it needs to go ASAP
 
Ahmed siddiqui said:
Yes the palace arms is going to be the largest mosque in Toronto god willing, we thank our saudi brothers and the city of Toronto for their understanding of our needs by relaxing the heritage rules that go against our beliefs as muslims, we are also glad to notify the areas residents that we have also purchased all the polluting body shops and this makes for a cleaner quite place to both raise our families and worship God , we are glad to inform you that we are also helping to house the former tenants faraway from this site as we know they have caused a lot of crime in our neighborhood THANK YOU we look forward to breaking ground summer 2017
Click to expand...
Mosque is a false statement, Saudi Arabian connection is also what I heard, tenants will remain in Toronto, probably the east end, and be paid if by month 4 times monthly, 4 times weekly rate and weed and contraband cigarette sales will be eliminated.
 
It's now official Palace Arms has been sold, heard this on January 31/ 2017,tenants offered 2000 to leave by Feb 10 or stay rent free until April 30/ 17,rumours are the price was 11.8 million
 
This is very sad news for the tenants of the building. These humans are truly on the brink of homelessness and they are being offered pennies to basically disappear into the abyss. There is no equivalent housing for these folks to move into. As a junior, private-sector planner, I would be very uncomfortable being complicit to this displacement.
 
Saudi Arabian group was what I heard, parking lot included, but as of May2nd,2017 there are about 10 tenants refusing to leave delaying the sale from being finalised so it could delay it another month, the owner has received a portion of the sale money , so these tenants are the delay, so I guess lawyers will be involved
 
So I guess the rear part of the building will likely be demolished for a mid rise or tower, with the front portion retained?
 
ProjectEnd said:
Mystery solved?

This just sold to The Fueling Station - the flex-office people down in Liberty. TFS is currently responsible for 58 Atlantic, the proposed office building which replicates (to a lighter degree) QRC West. I wonder if we'll get a similar hovering-cube-over-heritage here?
Click to expand...
Good news, office makes sense to compliment the other two corners, hopefully something nice to incorporate the heritage with the new
 
You must log in or register to post here.

Back
Top