I've missed a lot of the progression of this project and thread. Has there been any talk to what WATERFRONToronto will do with their land? It looks like the land swap was successful and WT got a much more useable portion of property than the thin dockside strip they had before.
This is the foot of Yonge St. I expect that something very special will be built here.
Here is a bit of info on the future of that site..
Captain John’s Restaurant: Inside the Toronto landmark that’s now a duct-taped dream
Captain†John Letnik would love nothing more than to sail into the sunset of his golden years.
But his landmark Captain John’s Restaurant is mired both in the muck of Lake Ontario and an ongoing tax battle with civic officials who quietly wish the rusting 300-foot ship would just go away.
A few weeks ago — right after hip surgery finally convinced Letnik, 73, that his long days as a cook and once-renowned restaurateur are over — he slapped For Sale signs on the rusting hull of his beloved ship, Jadran.
Now Letnik is searching the world for someone keen to take up an expensive hobby, or foreign investors looking to park their millions offshore.
But Letnik’s duct-taped dream of a new future for his business may be sunk by other problems: The captain, who is actually trained to cook rather than sail, owes well over half a million dollars in back taxes, rent and insurance on the watery slip and the Queens Quay walkway to the ship’s gangplank.
And while Letnik and the broker working overtime to find the ship a visionary new captain are convinced of the contrary, waterfront officials are highly unlikely to grant the Jadran the long-term lease essential to make it viable for investors.
“The waterfront is changing and we are tasked with making it a fabulous public space for everyone,†says Michelle Noble, a spokesperson for Waterfront Toronto. It plans to turn the adjacent parking lot into an extension of the waterfront promenade.
“The long-term vision is that that land (where the gangplank to Captain John’s now sits) would become a great public park, befitting its location at the foot of Yonge St. — such an important location for the city and the waterfront.â€
Without a buyer, Letnik warns, the city has no chance of recouping what it’s owed. And while the Toronto Port Authority has the legal right under the Canada Marine Act to seize a ship for moneys owed, that could prove to be a far more costly headache given the ship would have to be towed.
And is there really anyone else who would want it?
Sadly, the former cruise ship — home to Captain John’s Restaurant since 1969 — has become more eyesore than icon over the last two decades, towering at the foot of Yonge St. in the midst of prime waterfront land undergoing a remarkable transformation
More.....
http://www.thestar.com/business/art...o-landmark-that-s-now-a-duct-taped-dream?bn=1