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Italian Consulate in Toronto to Redevelop

CBRE Hired to Seek Proposals to Renovate and Preserve Existing Site and Create Italian Canadian Space
February 9, 2018
The Italian consulate in Toronto is considering a major redevelopment of its downtown site, which is now being marketed in the real estate community as a "landmark opportunity" to showcase the Italian community in Canada.

CoStar News can report a brochure has been sent out by brokerage CBRE Ltd. pointing to a number of objectives that the owners hope to achieve with the redevelopment at 136 Beverley St. in the downtown west end.

"The Consolato Generale d’Italia is seeking expressions of interest from developers, institutions and other entities who are interested in working with the parties to enhance the full potential of the site," according to the pitch from the brokerage. "The purpose of the offering is to leverage the land's development potential to create an iconic new construction for Torontonians and to fund a careful restoration of the existing heritage building."

No dollar figures are quoted in the offering done on behalf of the Consolato Generale d'Italia in Toronto and the Canadian Italian Business and Professional Association of Toronto, a non-profit group founded in 1952 that seeks to represent the interest and views of Canadians of Italian heritage.

The Consolato Generale d'Italia of Toronto, an office of the Italian Ministry of Foreign Affairs and International Cooperation, currently owns the site. It protects the interests of Italians living in Ontario, Manitoba and Western Territories and provides visa services to foreigners travelling to Italy.

The parcel of land is located at the northwest corner of Dundas Street West and Beverly Street. The northern portion of the site is occupied by Chudleigh Mansion, an 18,300-square-foot heritage building that houses the consular post. The site size is 0.765 acres and includes about 210 feet of frontage on Dundas and 155 feet of frontage on Beverley.

"The property's improvements, including the mansion, are all situated on the northern portion of the site, providing an exceptional development opportunity with frontage along Dundas Street West," the brochure states, noting the property is immediately adjacent to the Art Gallery of Ontario.

CBRE said the "most ideal redevelopment" would establish a landmark for the Italian-Canadian community in downtown Toronto to showcase Italy and benefit Italians, Canadians of Italian Heritage, local neighbours and the city as a whole while preserving the heritage building.

The redevelopment will also consolidate the institutional presence of the Italian government under one roof while housing other organizations in the Italian and Italian-Canadian community in what is expected to be a state-of-the-art facility.

As part of the proposal, CBRE has labelled five key objectives. Plans are to include renovating and restoring the existing consulate premises and preserving heritage features. Bidders also need to relocate the consulate temporarily during the renovation, create new space to promote Italy and Italian-Canadian heritage, respect the existing character and aesthetic of the neighbourhood, and provide a future community heritage fund for the benefit of the Italian-Canadian community in Toronto.

Garry Marr, Toronto Market Reporter  CoStar Group   

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