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Since 1948, Honest Ed’s has been one of the city’s most cherished discount-retailers, selling an eclectic mix of goods at a fair price. It is a famous landmark for the Annex that attracts thousands of people daily, making it a strong contributor to Bloor and Bathurst’s thriving commercial district. For this reason, Torontonians are distraught to hear that the retail space is on the market, allegedly for $100-million.
At this time, real estate companies have the opportunity to bid on the store’s 160,000-sq.ft., as well as the 190,000-sq.ft of commercial property in its vicinity. Due to its prime location, Honest Ed’s will likely attract a lot of market attention, but predictions as to when transactions will pass is still unknown.
The citizen consensus thus far seems to be that Honest Ed’s should not be sold-off for more condo development. Nonetheless, city planners expect the three-storey building to grow another 7-9 storeys if purchased — with a $100-million price-tag, stacked development is very possible. Expanding the current property, however, endangers many of the other stores on the block: Sonic Boom, The Beguiling, Suspect Video, Little Island Comics, and many more. The loss of these stores would devastate loyal shoppers in the neighbourhood, but sadly there is little that can be done to prevent it.
Since the property is not listed as a heritage building, Honest Ed’s has little protection, which is why many querulous residents are furious at David Mirvish, son of Ed Mirvish, founder of the store. Although many rush to point-fingers, others are open to the concept of a conglomerate settling in. In fact, many suggest developers should relocate the Kensington Market Walmart to Bloor and Bathurst, although this is only hypothetical city-talk.
For the time being, rush into Honest Ed’s and take advantage of the deals while you still can. It’s effulgent exterior, witty signage, and warm presence has an impending expiry date — or so it seems.
Honest Ed’s by Stewart C. Russell
CC BY-SA 2.0
http://www.flickr.com/photos/scruss/448528482/
Honest Ed’s-A great place to shop-so sad to see it closing-I feel real sad for the staff,all who worked there.
Honest Ed is now sold to a Developer from Western Canada… The price hasn’t been disclosed.
Hi, don’t forget the photo credit you have to put in if you use one of my CC BY-SA images:
Honest Ed’s by Stewart C. Russell
CC BY-SA 2.0
http://www.flickr.com/photos/scruss/448528482/
Done… Sorry, we missed it…