Greenwin, Partners to Redevelop Historic Toronto Hotel
Greenwin and Intentional Capital have launched a joint-venture with Windsor Private Capital to redevelop Toronto’s 133-year-old Palace Arms Hotel into a residential mixed-use property.
The redevelopment is expected to comprise a 14-storey tower with 219 rental units on a 15,000-square-foot lot and will feature a mix of one-, two- and three-bedroom suites, the Toronto-based companies said in a news release. Located in the King West neighbourhood, the upgraded Palace Arms will also contain ground-level live/work suites and a number of affordable studio suites.
Plans call for the building’s existing main facades to be conserved and rehabilitated. The hotel’s heritage brick masonry, window openings, variegated roof lines and masonry chimneys are also to be retained.
Rod Bell, Intentional’s managing director and co-founder, said the partners hope to “safeguard a treasured piece of Toronto’s historic landscape while responding to a critical need for housing.”
New amenities will include a commercial-quality fitness facility, co-work space, social room, automated parcel management system, bike lockers, pet wash, yoga studio, multi-purpose room, and rooftop patio with BBQs and children’s play area.
Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate.
Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s.
In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star.
Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.