Toronto's Gladstone Hotel Has Been Sold to Condo Developers
"It is the best possible scenario, not just for the building but for the staff and patrons who love this property and the culture around it"
Dream Unlimited and Streetcar Developments — the developer team responsible for restoring the Broadview Hotel in the city's east end — will take ownership of the Queen Street West property by the end of the month.
News of the purchase comes today from Christina Zeidler, the hotel owner's family member and current manager, who said in her search for a buyer, she "looked for someone with the vision to carry on the legacy of the Gladstone Hotel" and who also "understands the historic significance but also its cultural significance."
She added: "I have personally known the Streetcar team for years, as neighbours to the Gladstone, but also, significantly, as city builders."
The Gladstone is currently listed as a Heritage Property by the City of Toronto, so don't start worrying about the fate of the venue just yet.
According to a report from DailyHive, it appears the new owners don't plan on demolishing the building for condos (yet). They do, however, want to begin "enhancing" it.
"We have great respect for the West Queen West community and believe the Gladstone Hotel is a unique representation of the neighbourhood's art, culture and diversity," said Les Mallins, founder and president of Streetcar Developments. "We look forward to amplifying the hotel's offerings with our refreshed vision, enhancing the current building while ensuring the property remains a staple within the community."
Dream and Streetcar take ownership of the Gladstone on March 31.
See the hotel's announcement below.
We've got news! ⤵️ - Built in 1889, The Gladstone Hotel is Toronto's oldest continually operating hotel. It has had many chapters in its long history and we are excited to now announce another chapter in our history. After 17 years Christina Zeidler is stepping away from leading the Gladstone. She looked far and wide to find someone who would not only take on the building but also all of our staff, clients and cultural commitments. Someone who was aspirational about learning from our team and going deeper into their support of the arts in Toronto. - We are thrilled to announce that the team behind the @broadviewhotel has purchased the Gladstone! The Gladstone will continue to be its own separate entity but be joined spiritually with its "sister" building in the east end of Queen Street, creating a culture and character-rich boutique hotel portfolio here in Toronto. This transition is planned to take effect on March 31, 2020. - The decision to sell the Hotel is a personal one. Creative Director and Business owner Christina Zeidler has plans to now move on to other creative projects. - We are excited for a bright future for the Hotel with the vision to carry on the legacy of the Gladstone Hotel. Someone who understands the historic significance but also its cultural significance. It took a long time to build the culture around the Gladstone. The commitment to continue to grow this vision is a dream come true. It is the best possible scenario, not just for the building but for the staff and patrons who love this property and the culture around it. Please continue to support our sweet Hotel, and the people who make it so wonderful ❤️ - #gladstonehotel