BEVERLEY STREET TORONTO, ONTARIO
Landmark Opportunity - Landmark Investment Opportunity
D’Arcy Street
136 BEVERLEY STREET
Beverley Street Dundas Street West
2 136 Beverley Street, Toronto
D’Arcy Street the offering
On behalf of the Consolato Generale d’Italia in Toronto and the Canadian Italian Business and Professional Association of Toronto (collectively, the “Parties”), CBRE Limited (the “Advisor”) is pleased to present this extraordinary development opportunity, located at 136 Beverley Street, Toronto (the “Property”, “Site” or “136 Beverley”). Situated on a 33,323 sq. ft. land parcel at the northwest corner of Dundas Street West and Beverley Street in the heart of Toronto’s Downtown West node, 136 Beverley Street is renowned as the house of the Consulate General of Italy. Occupying the northern portion of the Site is the Chudleigh Mansion, a 18,300 sq. ft. heritage building that currently houses the consular post. The Property’s improvements, including the Mansion, are all situated on the northern portion of the Site, providing an exceptional development opportunity (“the Offering”) with frontage along Dundas Street West, immediately adjacent to the Art Gallery of Ontario.
Beverley Street Dundas Street West
3 Landmark Investment Opportunity - the offering
Exceptional Development Opportunity
The Consolato Generale d’Italia is seeking expressions of interest from developers, institutions or other entities who are interested in working with the Parties to enhance the full potential of the Site. The purpose of the offering is to leverage the lands’ development potential to create an iconic new construction for Torontonians and to fund a careful restoration of the existing heritage building. The development lands along Dundas Street West provide a variety of opportunities for new construction, the value of which would be realized in the improvement of the Property. The most ideal redevelopment - while preserving the heritage building - would establish a landmark for the Italian-Canadian Community in downtown Toronto to showcase Italy and benefit Italians, Canadians of Italian heritage, local neighbors and the City of Toronto as a whole. The redevelopment would also consolidate the institutional presence of the Italian Government under one roof in a state-of-the-art facility, while housing other organizations of the Italian and Italian-Canadian Community.
To achieve these objectives, the Parties are seeking a development proposal that will: 1. Renovate and restore the existing Consulate premises ensuring the preservation of its heritage features and the permanence of the Italian Consulate on the site; 2. Relocate the Italian Consulate temporarily during such renovations to ensure continuance of consular services; 3. Create new space to promote Italy and the Italian- Canadian heritage and identity; 4. Respect the existing character and aesthetic of the neighborhood; and 5. Provide a future community cultural heritage fund for the benefit of the Italian-Canadian community in Toronto. The Parties seek expressions of interest to assess the feasibility of achieving the objectives illustrated above.
4 136 Beverley Street, Toronto
Ownership and Partners
The Property is currently owned and occupied by the Consolato Generale d’Italia a Toronto, an office of the Italian Ministry of Foreign Affairs and International Cooperation. The Consulate protects the interests of Italians living in Ontario, Manitoba and Western Territories and provides visa services to foreigners traveling or moving to Italy for various reasons. The Consulate also promotes bilateral trade, Italian culture and language, as well as bilateral scientific cooperation and intercultural exchange.
The Canadian Italian Business and Professional Association of Toronto (CIBPA) is a non-profit member organization founded in 1952 which seeks to represent the interest and views of Canadians of Italian heritage. More information as to the key development objectives for the stakeholders are detailed in the Confidential Information Memorandum (“CIM”).
5 Landmark Investment Opportunity - the offering