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Heritage Designation and New Projects
With so many developments in the City of Toronto, one has only to look around to notice that land has become very scarce, especially in and around the downtown core. A more recent phenomenon has many developers looking at existing buildings to create new developments. Some examples of this are some existing loft projects around the city such as the Tip Top Tailor Lofts, the Chocolate Factory Lofts, the Button Factory Lofts and some condominium projects coming up such as the Imperial Towers and a portion of the Bisha Hotel and Residences and Fashion House, which are projects that are in either old existing buildings which the province had deemed as a Heritage Site, or are projects that preserve the historical characteristic of an old building on the site, while incorporating it with new towers and structures.
In Ontario, the Ontario Heritage Act allows for municipal councils to designate sites and buildings which they consider to have historical value or significance to designate it as such. The effect of such designation prohibits complete redevelopment of the site or building unless the municipal council consents. Consent is typically limited and is only granted if the developer maintains the historical integrity of what the municipal council seeks to preserve which in most cases is the exterior. For example, in most of these projects, the developers have to maintain the exterior facade of the building, but could get free reign to redevelop the interior or as mentioned above, some of the projects have new additions built up on top and in an around the existing historical building.
Someone who is purchasing an older house or commercial building may have an issue with historical designation if they wish to redevelop it. While Heritage designations are registered on title, a property may be under consideration for designation and such information is only available through the municipality. Therefore a proper search should be conducted for anyone concerned that their future building or project may be limited to redevelopment.
Another issue to consider with retrofitted historical projects is that the government backed Tarion Home Warranty Plan does not warrant retrofit and therefore a purchaser in this case would only have the Developer’s warranty which could be a big concern if the developer is not reputable.
Retrofit Historical designated projects give new life to old and often neglected yet beautiful historical buildings located in great areas across the city. Preserving our civic cultural heritage is important as both an organic reminder of the past and inspiration for future developments city looking to appeal beyond today’s contemporary architectural styles.
