Five rundown homes in Toronto are on sale for $12 million
It looks like there might be a new condo development in Cabbagetown soon.
Five homes on Homewood Avenue are currently listed together for $12,000,000.
According to the listing, 17, 19, 21, 23 , 29 Homewood Ave. are all being sold together and realtor Jeannie Zheng told blogTO that 31 and 31A Homewood Ave. are also willing to sell but will be making their final decision on Sunday.
31 and 31A are not included in the $12 million listing. They would be an additionally cost, although Zheng isn't sure what the listing price would be if they do decide to add their home to the Homewood Avenue bundle.
Right now the homes are all rental properties owned by various people but according to Zheng, they've all collectively agreed to sell their properties for land value.
"We want to make the neighbourhood a better place to live," said Zheng.
The homes make up more than 11,000-square-feet of space right in a prime downtown Toronto location, so it's ideal for any developers looking to build.
And while any building could go up here, I wouldn't be surprised if another condo building went up in the soon-to-be vacant spot. Mostly because there are several large apartment and condo buildings in the area.
In fact, there's a massive one just on the other side of the street.
Although, it's kind of a shame though that the homes can't be restored and refurbished in some way. Most of them look like the original Victorian houses of the neighbourhood... albeit a bit worse for wear.
But Toronto does have an affordable housing crisis so maybe whoever buys up these homes will do something to help that... Fingers crossed.
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