Casa Loma: Residence Or Attraction?
Casa Loma is a unique architectural jewel of Canada, and once the country’s largest private property. It took 300 men three years to build Casa Loma for Sir Henry Pellatt.
Sir Henry, an affluent man, had the monopoly on street lighting in Toronto but the license was taken back; causing Sir Henry to fall deep into debt , which meant the sale of this unique castle. In 1925, it was agreed that the house would now be a luxury hotel. The house was refurbished to become a hotel but was doomed to failure, which within 4 years it had done therefore it was closed down.
A few years after the collapse of the hotel, the Kiwanis Club approached the City and was given approval to turn it into a museum centred round the original owner and Toronto itself. Over 70 years later the castle is still a well-known attraction for the 30,000 visitors that turn up at the doors each year. The museum pays fees and taxes to the municipal budget and is self sustaining, which means it doesn’t take cash from the budget like many visitor attractions do.
It has been a shock therefore, to find out that the Council want to take back the castle and have devised a new strategy to make money out of the building, even though the Club is still going strong and is really popular. It’s suggested that the house will be placed on the Toronto housing market and sold off to an interested investor. It’s hard to think that an individual would be happy to take possession of the entire property again, but the City may decide to turn Casa Loma into a apartment building.
With the previous restoration and the care taken by the Kiwanis Club, the house is very modern and comfortable, with large rooms. The Forest Hill district is across the road and with quick access into the city, Casa Loma has everything people need.
All of these benefits would make it one of the most prominent places to live in Toronto. The property market is showing us that luxury abodes is extremely sort after, especially as the most expensive condominium in Toronto has just been sold at a staggering $28m.
Individuals appreciate the fact that the venue is available to visit and gives a reminder of the history of the industrial revolution. They state that the financial value to the council if it is sold should not be part of the equation, that the historical value of the castle as well as cultural heritage is more important.
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