Westin Harbour Castle hotel to be sold and redeveloped
Toronto's Westin Harbour Castle will be up for sale next week. As the Globe and Mail reports today, the 40-year-old hotel is hitting the market and could fetch between $350 to $400 million - a record amount - thanks to its prime lakeside location on 3.5 acres of land.
The property has changed hands numerous times since 1975, and as the Globe notes, it could be redeveloped because it's zoned for both commercial and residential purposes. However, it'd have to be rezoned for more density before condos move in.
Along with the current hotel, there's room for another tower as well as two additional towers where the conference centre sits across the road at 11 Bay St.
As the city's waterfront readies itself for change, it'll be interesting to watch what happens to this centrally located site.
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