News

What's old is new again at the Vinegar Lofts, where Streetcar Developments Inc. will transform a century-old factory into authentic lofts with original exposed brick walls, beams and wood deck ceilings that range from 10- to 14-feet high.

"With all the building going on in the city, this is one of the rare buildings out there that is an authentic loft conversion that can blend all the authentic features that are in the building," vice-president of sales and marketing Alie Warren says.

"This is something that is very unique, and in this type of market that's what buyers are looking for."

The project — which makes its debut tomorrow — is officially called the Queen City Vinegar Co. Lofts after the company that was first established there in 1907 at River Street and Queen Street West.

The process of preserving the building's character has already started with the restoration of the brick facade, which is three storeys high in the front and one in back.

A modern two-storey addition will top off the structure to create new lofts with floor-to-ceiling windows and outdoor spaces. "We think it lends well to the company's original architecture," Ms. Warren says.

By the time the project is completed in July, 2007, there will be 38 one- and two-bedroom lofts.

Purchasers can choose from as many as 18 floor plans, all featuring polished concrete floors and warehouse-style windows, Ms. Warren adds. "All the original brick details around the windows . . . will all be there and maintained."

The kitchens will have contemporary wood finishes, stone countertops and stainless steel appliances.

The monthly maintenance fee will be about 34 cents per square foot and includes water, gas and upkeep of common areas, such as bicycle storage. A parking spot will cost $22,000 and a locker $3,000.

The neighbourhood is also a major attraction, filled with furniture shops, boutiques, studios and bistros and cafes. "It's a very vibrant neighbourhood," Ms. Warren says.

The site is also steps from the TTC, Don River Trail and Don Valley Parkway, and not too far from the St. Lawrence Market, Distillery District and the downtown core.