In November 2023, a number of historical houses in Toronto's district of Cabbagetown went up in flames in a mysterious way.
Toronto Fire confirmed blogo in 2023 that the main addresses for the incident were 225 to 229 River St.
229 River St. had been sitting on the market, boring for a while and then on the day of the fire it sold.
229 River St. was also listed as a “multi-unit development option”, although the wording was removed from the list.
The front of the house.
This made some people suspicious, whereby some speculated that the fire may no longer come out to reproduce the Heritage attributes of the house.
According to the ontario government's webiste, if a cultural heritage is destroyed by fire or accident, the owner does not have to replicated proof of the loss by the designation order. A replacement building can be a different design, since the intention of the designation of the historical, physical, contextual or other evaluation of a property of ownership of a property of a property of a property of a property of a property of a property of a property of a property of a property of a property has a property.
Now another houses affected by the fire affected is on the market.
227 River St. has just been listed for 499,000 US dollars.
The back of the house.
After the list, the house was “disappointed” by the fire and must not be entered. Of course it is sold “, as” only for “only land value”.
Although it was a shell of a house, it apparently had two bedrooms and a bathroom.
As far as the land value is concerned, it is on a reasonable property (16 x 100 feet) and in the Riverdale Park.
But the fact that it is a cultural heritage asks the question of what you can actually do with property.
If you have to rebuild the house as well as War-Alle repeat its historical elements and restore-you are probably for a PIT type situation.
However, if you can only tear down and rebuild, with the only restriction to keep yourself in the style and character of Cabbagetown South, this could be the deal of the year.
The garden.
Half-detailed houses can sell between 999,900 and $ 2,350,000 in this neighborhood, which means that they can double or triple their investment.
Since the list advises to talk to a lawyer about what you can do with this property and what is not, our assumption is that the options are limited.
In any case, this is probably the cheapest house that you will ever see in Cabbagetown, and that's something that is worth talking about.