ABOVE: Casa Loma Likely to be run by liberty Entertainment. Sean O’Shea reports.
TORONTO – Touted as “Canada’s Majestic Castle”, Toronto’s Casa Loma may be in store for a brand new revamp.
According to the Globe and Mail, the City of Toronto and Liberty Entertainment Group are on the verge of signing a 20-year deal which would have the Gothic styled mansion include a fine dining restaurant and a banquet hall.
The Kiwanis Club were in charge of the facility for 73 years, but the city took it over in 2011 due to how it was being managed.
Terms of the agreement have not been released but a staff report says proceeds from the lease will be put aside to maintain and restore the building.
Although the attraction remains a tourist attraction, city officials say it just isn’t garnering the interest and profits it used to.
Liberty Entertainment Group currently operates several venues such as the Liberty Grand ballroom at Exhibition Place, the Phoenix concert hall and the Rosewater.
The proposal will be brought to Mayor Rob Ford’s executive committee for debate next week. If approved, the deal could go to city council in November.
© Shaw Media, 2013