Sutton Place ~ Lanterra’s Newest Project
By Brian Madigan LL.B.
The Sutton Place Hotel has been a landmark in Toronto since the 1970’s. But, like everything else, it did grow a little old and dreary.
Just this past week Lantera, a major Toronto condominium developer announced plans that it would convert the hotel in condominium apartments. It plans to widen the footprint of the building, add some floors and create about 600 condo units.
Lanterra plans to retain the old character and add to its charm. The hotel now is well-located to Queen’s Park (the Ontario Legislature), just south of Yorkville and the Bloor Street fashion district which has the highest retail rents in Canada.
This is an excellent project and the condo community welcomes this latest entrant with open arms. There should be plenty of buyers and investors for this project.
Brian Madigan LL.B., Broker is an author and commentator on real estate matters, if you are interested in residential or commercial properties in Mississauga, Toronto or the GTA, you may contact him through RE/MAX West Realty Inc., Brokerage 416-745-2300.
www.OntarioRealEstateSource.com
February 20, 2012
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