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.

Image: Sweeny & Co. Architects