Greenwin and Intentional Capital have entered into a joint venture with Windsor Private Capital to redevelop Toronto’s historic Palace Arms Hotel into a mixed-use residential housing development.
Located at 950 King St. West, the Palace Arms Hotel is one of the area’s most iconic landmarks, constructed in 1890. Plans for the project include conserving and rehabilitating the building’s existing principal facades along with its heritage brick masonry, window openings, variegated roof lines and masonry chimneys.
The new development is expected to consist of one 14-storey residential tower totalling 219 rental units on a 15,000 square foot lot; it will feature a mix of unit sizes, including affordable studio rental suites. Amenities at the property will include a fitness facility, co-working space, a social room, an automated parcel management system, bike lockers, a pet wash station, a yoga studio, a rooftop patio with BBQs and a children’s play area. The location is directly on the King West TTC line and within walking distance to Liberty Village, Trinity Bellwoods Park and the Financial District.
“We’re thrilled to see the City supporting new development and look forward to bringing this landmark project to market,” said Kevin Green, President and CEO, Greenwin.
“By integrating the architecture of the existing structure with a reimagined contemporary rental experience, we hope to safeguard a treasured piece of Toronto’s historic landscape while responding to a critical need for housing,” continued Rod Bell, Managing Director & Co-founder, Intentional Capital.
“We are particularly excited to partner with developers who have a long-standing history of bringing much-needed rental housing stock to the market,” added Jordan Kupinsky, Managing Partner, Windsor Private Capital. “This partnership is a natural extension of our companies’ shared vision and commitment to building and supporting some of the GTA’s most vibrant communities.”
For more information on the Palace Arms Hotel redevelopment project, visit www.greenwin.ca.
