Toronto Imperial Plaza | 96.01m | 23s | Camrost-Felcorp | Onespace

Has anyone seen or heard anything more a recent on this? A quick google search didn't turn up much.
 
A group of three developers bought the site. There are plans to convert the building into luxury condos and put one more tower on the parking lot.
 
Sold for 41 million, $96 per sq. ft. That is less than construction costs. This with the LRT at its door step, in a city that is to some 'ascending'.

Yep Toronto is ascending alright.
 
Glen said:
Sold for 41 million, $96 per sq. ft. That is less than construction costs. This with the LRT at its door step, in a city that is to some 'ascending'.

Yep Toronto is ascending alright.
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Agreed ... but just fyi regarding this site, there are a lot of complications here - first off the office building is in need of major retrofitting, so even if one were to acquire the site and planed on simply fixing / leasing the space *as offices* it's going to cost a lot more then many of the other offices buildings on that block.

Now if there's no demand for that - it's going to cost way more to convert this into a condo / and or demolish.
 
I was lucky enough to get a quick visit of the building last week. From what I was told the only buyer is planning on putting a small tower on the south corner of the lot. They will also add townhouse's to the street on the south side of the property.

The original building will be gutted and redeveloped for condo's. It is an interesting building that really doesn't look like it has been updated in a decades. But one of a kind none the less.

I am hoping to get back into the building and take more pictures soon, until then enjoy the ones I was able to take.

http://www.flickr.com/photos/52457259@N05/
 
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Team Me said:
Has anyone seen or heard anything more a recent on this? A quick google search didn't turn up much.
Click to expand...

I had pre-registered on their website a few months ago-- just to eventually get more info-- but haven't heard anything.
 
Camrost-Felcorp and Goldfarb Management Services (a 10% interest) have bought the project.

I am not sure about the existing building but there will be a new condo in the parking lot behind.
 
new Condo Guide came out today...there's an ad on the first page for 'Imperial Plaza' Yonge & St. Clair by Camrost-Felcorp.....same project?

website.......http://imperialcondos.ca/

"What Toronto Looks Up To"....."a masterpiece of late-deco modernism"....."Clad top to bottom in exquisite limestone".......:D
 
I also saw the ad in the new Condo Guide magazine. It is the same project...not the best description IMO
 
It was mentioned above that this will be a condo on the lot behind the imperial oil building - so the building may remain untouched for now.
 
There seems to be a lot of interest in this site. I have toured the site and have spoken to principals at Camrost and can report the following:
Imperial Oil spent over $15 million before they sold the site to Camrost-Felcorp so any fears that the site is still contaminated is unfounded.

Camrost-Felcorp is planning to fully restore the existing limestone Imperial Oil building for residential condominiums, and shoppes (including a café, a gourmet grocery store, a bank, and other retail space).

According to the OFFICIAL registration page
(http://imperialcondos.ca/) the units will be starting from the $300s, and from what I have heard with the bulk of them being in $400. The Design Agency has been hired for interior design and suite layouts.
All suites have minimum 10 foot clear ceilings taking advantage of some of the best views in Toronto.

Now the penthouse will be even more spectacular! They will be 3 storeys each, with private elevators/ a private lobby. They will be like observatories on top of the building, as they all have glass walls. I will let you guys know if I get more information. I cannot wait for this project!
 
And your sure this isn't on the plot behind the imperial oil building, as was suggested above at one point?
i.e. this isn't a completely new condo on the parking lot - rather, they're converting the office building?

Which is sad to some degree - but like I said above I'm sure the building is in pretty bad shape (nothing to do with soil conditions) so it would require a lot of upgrades on the interior to be usable as office space again.
 
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