![]() Anything with character that comes on the market sells on the same day.”Īccepting the challenges of building converted lofts in order to meet demand, Toronto’s Atria Development Corp. Because of this, live-work lofts are some of the most expensive real estate in the city. “This type of building is a lot of work, with many quirks and a lot of hassle. “Developers stopped converting lofts years ago,” he says. ![]() In Herrild’s experience, however, live-work lofts converted from old buildings are very scarce in Toronto. “It’s an attractive alternative to commercial space because you can finance a unit like this at residential rates and your taxes will be lower,” he says. Andrew Harrild, executive vice-president of property.ca, a real estate brokerage that specializes in Toronto lofts, sees a growing trend in buyers looking for a unique live-work space, especially if it has character and history. Unfortunately this option, at least in Toronto, now comes with a high price tag, and only a few neighbourhoods in the city are zoned “live-work spaces.”īut the demand is there. What began as projects with a limited number of subsidized live-work spaces for artists and artisans, such as the Artscape buildings at Wychwood Barns and Liberty Village, are now being embraced by a broader clientele. The greatest demand for these spaces in the GTA and beyond is from professionals in the creative industries, as well as young entrepreneurs who are unable or unwilling to pay the high costs of buying or leasing office, workshop or studio space as well as additional living space. Today, with full-time jobs becoming increasingly scarce and telecommuting gaining in popularity, live-work is an appealing option for self-employed individuals searching for the ultimate work-life balance. Butcher shops, bakeries and taverns with owners living upstairs have been around for centuries and still exist today in the form of ‘mom and pop’ convenience stores and B&Bs, allowing self-employed people to simply walk down the stairs to work every day. Live-work spaces are not a new phenomenon. The building is well-maintained, centrally located and accessible, with a nice mix of occupants ranging from artists to photographers to Bay Street executives.” Demand for units is unprecedented, Wiley notes, with condos now selling for over $1.5 million. “It gives me all the room I need to set up my specialty shoots-portraits, group photos and lifestyle images. space allows Wiley plenty of room for setting up and storing his equipment and lighting, with the added bonus of large building hallways and freight elevators “almost the size of some city condos.” In the late 1990s, he moved into his Sumach Street home, a former CBC commercial building that was converted into 116 live-work condominiums known as the Brewery Lofts.įeaturing 14-foot ceilings and a 200 sq. Renowned Toronto photographer Matthew Wiley is no stranger to this type of live-work arrangement. Imagine living in a building that equally accommodates your requirements for a proper workspace and your need for a place to call home, without ever having to commute to an office again. Instead of driving to an office or to a commercial center, “people can walk across the street and get their hair done or have a cup of coffee,” said McGowan.By Marc Huminilowycz Bringing your work home with you is sometimes a good thing, as buyers of live-work housing are discovering Why do I need an office downtown? I can have a shop on the first floor,” he said. “The internet and mobile devices have changed businesses drastically. Live-works are a reflection of how mobile technology and the pandemic have changed the American workplace and made working at home more attractive, said David McGowan, president of Regent Homes. People don’t have to get in their cars,” she said. Live-works add to the walkability of a neighborhood, said Regent sales agent Lisa Watson. ![]() There will be separate entrances for the commercial and residential areas. In Harvest Point, Regent’s live-works will have up to 1,200 square feet of commercial space on the first floor and two-bedroom residences above. They “were more drawn to the location rather than the live-work aspect,” said Hoffman. In 2AVES, some buyers are using the first floor as residential space. Not everyone who owns a live-work townhome operates a business. Live-work townhomes “are very much in the fabric of Wedgewood-Houston,” he said. There are extraordinary things being made in Wedgewood-Houston,” said Hoffman. ![]() Live-work townhomes fit well in Wedgewood-Houston, a “maker” community of craft manufacturers - like Corsair Distillery - and artists. ![]()
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