Re: Howard
From the Star:
Historic Ontario Club finds new home
The historic Ontario Club, which had been operating under the threat of losing its premises after its lease expired, has found a new headquarters in a last-minute deal.
The prestigious Bay Street institution, which serves its last meals this week and is set to move out of its Commerce Court headquarters by month's end, had been in danger of becoming homeless after a planned move fell through.
The club is expected to announce today that it will move into the 12th floor of 1 King West, the former home of the Dominion Bank of Canada, and the site of a condominium hotel.
"I think we've created an elegant solution to the problems the club has been facing, and we're finally at one more step towards creating the grand vision of a hotel we had seven years ago," developer Harry Stinson said yesterday.
The club was originally set to move into the second floor ballroom area of 1 King W. on March 1, until a court dispute broke out between Stinson and business partner David Mirvish.
Last weekend the club discussed an alternate venue with the building unit owners.
Stinson has filed for protection under the Companies' Creditors Arrangement Act for two companies in the project.
A separate lawsuit filed against Mirvish by unit holders claims the building has deficiencies. Mirvish, a high-profile theatre owner, has refuted all claims.
Bob Clark, the chair of the club, said his members didn't want to get in the middle of the disagreement, which partly involves the ballroom, on which Mirvish holds a mortgage.
"We were really caught in the middle. But we think we have found a good solution." The 12th floor area was originally meant to be a residents' lounge and is owned by the condominium corporation, so is not an area in dispute, Stinson said.
"It will be a neutral area, kind of like Switzerland on the 12th floor" quipped Stinson, adding the Ontario Club hosts many in the diplomatic community.
The popular haunt of Bay Street executives was supposed to move to 1 King W. on March 1 before its lease at Commerce Court expired, but the move had been jeopardized, said Stinson.
As a result, club and condo representatives met Tuesday until after midnight to hammer out a deal.
"We both knew that if we didn't find a solution it could be quite damaging to both of our organizations," Clark said.
Resident unit owners of 1 King W. will be able to use Ontario Club facilities free, Stinson said.