TORONTO – The Broadview Hotel, which currently houses Jilly’s strip club, has been sold.
Streetcar Developments announced the purchase of the historic Riverside landmark in a news release Tuesday.
“We have great affinity for the neighbourhood and we believe this building is a jewel of Riverside,” said Les Mallins, President and CEO of Streetcar Developments. “We will first be focusing all our efforts on making the building safe and restoring it to reflect its place in Toronto’s history.”
Jilly’s lease is set to expire and will be vacating the premises, as well as the hotel occupants.
The loft and condo developer says it “does not see” the building as a condominium project and that its final transformation is still unclear – though Mallins did mention a restaurant or boutique hotel as possibilities.
“One of the reasons that we mentioned in our brief release that its not a condo project is because condos are often very private places for condo owners and you know, their select guests,” said Mallins.
“But for a building that’s so important to the neighbourhood and to the, city I think it’s very important to have a use that’s, sort of, widely enjoyed by the neighbourhood and the public at large. “
The landmark, located at the corner of Queen St. East and Broadview Ave., was originally built in 1893 as an office building.
The City’s Buildings department issued an Emergency Work Order in 2013 to have the structure up to code.
“We are in the early stages of planning, but our focus is to revive this building to a landmark everyone in the area can be proud of,” said Mallins.