The Art Shoppe is Sold! - YONGE AND EGLINTON
The Art Shoppe, owner of 2131 Yonge Street for the last 77 years, is sold. It is rumoured that Freed Developments, the people behind well known Thompson Hotel and Seventy5 Portland in the Fashion District, are ditching the Fashion District for now, moving uptown and building.
The rumoured price for the 1.5 acres at Yonge and Hillsdale south of Eglinton is $40.5 million dollars.
This section of Yonge is in desperate need of a rejuvenation but what about the Art Shoppe? Perhaps Freed could build above it. I can see the style of Seventy5 Portland mixing with the current building but I am sure they won't do that. But do you think The Art Shoppe can stick around?
And do you think Freed will attract the 25 - 35 year old crowd that loves their Fashion District buildings so much? I don't think so.
I think Coquine should start expanding! The restaurant by day and cougar party spot by night just down the street is going to be rocking!
UPDATE: I hear it was CD Capital Partners that bought it! Maybe it is a joint venture!!
The Thompson Hotel
Seventy5 Portland
photos via
