The Masonic Temple at 888 Yonge Street For Sale
By Lucas on Nov 07, 2012
Heritage preservation and development seem to go hand in hand in Toronto. As buildings age, we need to focus on maintaining their architectural integrity, while also making them relevant. Most of the time, at least in the past five to 10 years, buildings like these have been transformed into mid- or high-rise condos.
The Masonic Temple is a staple at the corner of Davenport Road and Yonge Street, and has been since 1917. The building is currently home to MTV Canada, but last Friday, Bell Media announced that MTV would be moving its offices to 299 Queen St. W.
So what happens to the Masonic Temple?
“We are moving the MTV studios to 299 Queen St. W. and, as a result, there will be no further production done at the Masonic Temple as of now,” Scott Henderson, Bell Media’s vice-president of communications, said to the Toronto Sun.
“Staff were notified of it in September. The future of the temple has yet to be decided. They’re considering all opportunities, including potentially selling it. The real estate team is trying to determine what the future will be.”
Apparently, they are entertaining the option of selling to a developer. Located at 888 Yonge St., the building sits on an irregular floorplate, one that may be difficult to re-develop or build upon. Developers in Toronto have always found ways to get around these issues—a good example is Backstage on the Esplanade by Cityzen and Fernbrook. But 888 Yonge St. looks like it might be a nightmare to work with.
This is just us speculating, but if Bell does sell the temple to a developer, it may make more sense to leave the exterior building as is, and repurpose the interior. Given the Yorkville address, and the panache that would go along with living at the Masonic Temple, a developer has the potential to transform it into a high-end luxury loft space.
What are your thoughts on these possibilities? What should become of the Masonic Temple?
Comment below.
