Weston Common Sold

Artscape Weston Common and the residential rental units in 2020. File.

Another stage of the Weston Common story has unfolded with the announcement yesterday that the entire complex at 22 John Street has been sold to three sections of a real estate company by the name of Dream. The purchase includes the Artscape managed Hub, both the old and new rental towers along with the 26 artist live/work studios. According to an article in RENX.ca the company stated that, “Dream’s intention is to increase the number of affordable units provided on-site as per CMHC’s definition of affordable rent for the area.”.

4 thoughts on “Weston Common Sold”

  1. Too early to say what the impact will be, but the very idea that an almost new building needs ‘modernization retrofits’ seems to scream ‘renoviction’, and the ‘CMHC’s definition of affordable rent for the area’ seems to be 30% of Toronto average income ($36,000 yearly rent), or $3,000 a month.

    1. The modernization activities are most likely related to the older, 70’s era buildings, and not the recently completed units.

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