240 King Street East

This 40-storey condo is set to replace a beloved Toronto neighbourhood bar

An application to convert tenured King East staple Betty's into — you guessed it — a condo complex has been submitted to the City of Toronto, which would turn the beloved watering hole and a number of adjacent businesses into a 40-storey high-rise.

240 King Street EastEmblem Developments, which is behind the tower slated for 234-250 King Street East and 162 Princess Street, is seeking rezoning of the block between Sherbourne and Princess Streets, which Betty's pub has called home for more than 25 years.

The building would offer 488 residential units, three levels of underground parking and 6,500 square feet of ground-floor retail, and would, due to the heritage designation of some of the buildings currently on the site, incorporate existing front facades, but nothing more.

240 King Street EastThe low-rise strip— portions of which date all the way back to the 1860s — would be rendered unrecognizable, with a charcoal brick-and-glass structure taking its place and offering 51 bachelor, 313 one-bedroom, 74 two-bedroom and 50 three-bedroom units for sale, many of them with balcony spaces.

Rumours of Betty's and other owners of the commercial establishments in the eight buildings on seven parcels of land in question potentially selling were circulating back in the fall, but this is the first major proposal for redeveloping the property.

240 King Street EastWhatever the fate of the site ends up being, it will surely take many years to come to fruition, meaning that patrons hopefully have a decent amount of time to enjoy Betty's and other local retailers whenever they're permitted to open their doors to the public once again.

Lead photo by

IBI Group for Emblem Developments

Join the conversation Load comments

Latest in Real Estate

Piece of land that is nothing but dirt and grass on sale for $1 million in Toronto

Here's what the controversial new condo coming to the Scarborough Bluffs looks like

There's a log cabin in Ontario on sale for $4 million

This Toronto house is only $500K but it smells so bad you can't go inside

This $14 million mansion in Mississauga looks like something out of a fairy tale

5 new condo developments that might convince you to move to Hamilton

The cost to rent a Toronto apartment is going up again but it's falling in the suburbs

This is what a $20K a month penthouse apartment looks like in Toronto