silver dollar room toronto

The iconic Silver Dollar Room in Toronto will soon become a condo sales centre

A fancy new residential complex rising atop what used to be the Hotel Waverly, Silver Dollar Room and Comfort Zone is growing ever closer to completion, officially erasing 120 years of history for a rental tower with two on-site juice bars.

"The Waverly," named after the 1900-built hotel demolished at College and Spadina in 2018, is scheduled to open in February of 2021.

With a projected occupancy date just months away, developers are now trying to fill all 166 units of the "boutique rental community," and they'll be using the ghost of the Silver Dollar Room to help them do so.

Yes, the historic Silver Dollar Room (1958 - 2017) will eventually reopen right where it used to stand, adjacent to a 5,000-square-foot retail and commercial space on the ground and mezzanine floors of the new development.

While gussied up, the new venue will include many heritage elements from the old Silver Dollar Room, including its original terrazzo flooring, murals, bar, and iconic sign, all of which have been preserved and are being restored.

The new bar is expected to open sometime in 2021, but at present it has been commandeered as a leasing centre for The Waverly.

Fitzrovia Real Estate, which is both developing and managing the property, posted a photo of the Silver Dollar Room's old sign to Instagram on Wednesday morning with a blurb that starts "Coming in 2021..."

Much to the disappointment of people who are keen to see the new-and-improved venue, the full sentence reads: "Coming in 2021, The Waverley will launch its leasing centre out of the Silver Dollar Room."

While it won't be a bar, Fitzrovia says that the leasing experience for this property will be uniquely tied to the historic venue's history with "speakeasy vibes, dim lighting and nods to the spaces rock 'n roll past."

A representative for Fizrovia says that the company intends to use the venue as a leasing centre for "approximately 3 months."

"After that point, it is our intention to lease the historic space to an operator that will run the space as a vibrant live music venue with a food and beverage concept," said the rep. "We're looking forward to welcoming tunes and culture back to the space."

Lead photo by

Viv Lynch

Latest Videos

Latest Videos

Join the conversation Load comments

Latest in Real Estate

People are getting into 'convenient' relationships just to afford Toronto rent

This $14 million Mississauga mansion comes with six fireplaces

Impressive hotel will soon be built into century-old grain silos in Ontario

Canada just changed the rules for the foreign home buyer ban and people are not amused

A massive chunk of Toronto's Kensington Market is now for sale at $24 million

Canada's new Tax-Free First Home Savings Account will be available this week

You can get a Toronto loft for $635k but the catch is you have to buy 14 of them

Only 5 Ontario places have homes cheaper than the Canadian average price