When Steve Doherty first saw the brick residence at 556 Bathurst St., with 24 bedrooms inside, he saw its potential to house young city-dwellers fighting not to fall through the cracks.
“We looked at every single pathway that we could, and we realized that we were going to be falling short,” Doherty said. Lee Koutsaris, an executive with Metropia, which is part of the Yorkville condominium team along with RioCan and Capital Developments, confirmed the deal that delivered the money had been inked more than two years ago, but that they’d only recently sought out their permits.
While some details are yet to be ironed out, including whether the new units will come with a small rent cost or be fully subsidized, Doherty said their pledge was to protect the 18 existing rooming house tenancies, and integrate their young residents as vacancies arise.
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