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Hi All,

Just an update on Toasts' old space.

I have continued renovating it, and finished the new HVAC for the store and the new On-Demand system for the residence above. It made a huge difference to my Hydro and gas bill.

Still looking for that right-fit tenant. The biggest obstacle seems to be the size, which few people are prepared for - 1850 sq ft plus 700 basement storage. I have had some exciting proposals, but alas, they weren't able to get finances in order. Yet.

I will continue upgrading the space, and here is the listing for anyone who wants to pass it along:

http://www.russellandward.com/listing/993-queen-st-e

I'll post good news as soon as I have it.

Carl.

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Thanks for the update Carl.  I always wonder when I see unused locations in the neighbourhood and it is nice of you to keep us informed.  I hope you get a great new business in your space who will be with you for a long time.

 

We are also exploring the option of drywalling throughout to make it a little less daunting-looking. My approach was to leave it bare studded so a new tenant could run their own electrical for lights etc, but the rawness of the space seems to put off all but the most adventurous souls. It was pointed out to me that I am 'selling a dream', and the brighter and cleaner the 'canvas' , the easier it will be to see the potential. We shall see...

Hi Carl,

Thanks for the update!  I'm hopeful that an inspired match can be found for your space.  It is in such a great location!  I love that you're trying to selling a vision.  Hopefully, you will soon find a match.  We need a generous financier to help support a burgeoning local talent of some sort, that's what I'd love to see!!  

Please keep us posted and we'll try to spread the word too. 

Eric

Me Too. I confess it has been discouraging. Most tenants who look here seem to end-up in the west-end or north end even though the rents are double and triple what I am asking. However, I truly believe in Leslieville, and and quite determined to find a tenant who sees how truly wonderful this area is.

So...I just lost another potential fantastic tenant, because 'the suits' do not get Leslieville. It was ever thus! The people with the vision have no means to finance their vision, and the people with the finances have no vision! Never mind. It just means whoever does eventually occupy the space will be truly special. Cross your fingers for good news next week...something is cooking!

Hi Carl,

I'm sorry to hear this!  That must be so frustrating for you.  I'm certainly hoping that good news will coming next week.  I'm sure something wonderful will take over the space.  You have a corps of hungry locals who are ready to support the new resto once it opens!  I'd be curious as to what 'the suits' don't understand about the neighbourhood.  Why is it so risky vis-a-vis other neighbourhoods?  

Eric


Carl Stryg said:

So...I just lost another potential fantastic tenant, because 'the suits' do not get Leslieville. It was ever thus! The people with the vision have no means to finance their vision, and the people with the finances have no vision! Never mind. It just means whoever does eventually occupy the space will be truly special. Cross your fingers for good news next week...something is cooking!

Urbanist Jane Jacobs called this 'Red-Lining'. Literally drawing a red line on a map inside of which there is less willingness to invest. This is why I couldn't get a commercial mortgage here in 1994, and had to go with a private lender (at 14%!!!). Investors are generally looking for a sure thing, and are about 10 years behind the curve of those of us who are on the ground and see the wonderful things happening here. I see this space going to someone who is putting up their own money or has an investor who is on the ground here and can see first-hand the vibe that is building/has been built. It will happen. I just want it to be a small, local business owner, not a franchise or nameless corporation (I have already said no to both...call me crazy!) Thanks for the good wishes - it will no doubt turn out to have been worth the wait!

All the best, Carl. I'm sure that we'll all keep our ears open for you!

You are all just plain lovely!

I admire you Carl. That space indeed needs something special. 

Thank you Bob. I am kind of taking the high road. It's tough on the bank account. But it will be worth it.

This weekend I finally checked out Lazy Daisy Cafe on Gerrard. What a lovely place. Fantastic sandwiches with locally sourced ingredients. I've always felt Leslieville needed an awesome sandwich shop like this. The old Toast space would be an ideal spot for something similar. 

http://www.lazydaisyscafe.ca/

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