Distillery District

Cityscape Holdings Inc. - www.thedistillerydistrict.com

Location: Toronto
Project Size: 284,800
Project Duration: 16 Months
Project Cost: $32,000,000

The Distillery District, is a national Historic Site and represents the largest and best preserved collection of Victorian Industrial Architecture in North America. Formerly known as The Gooderham and Worts Distillery, this facility has played an important role in the growth and wealth of both the city and nation, at one time contributing more to the Federal coffers than any other enterprise in the country. Whether your interests lie in heritage architecture, 19th century industrial processes or ghost stories, The District offers areas of interest for everyone in the family

In December 2001 Cityscape Holdings Inc. purchased The Distillery, later partners with Dundee Realty Corporation. In May 2003, The Distillery was officially opened, thereby implementing an ambitious plan by the owners to create a pedestrian - only village entirely dedicated to arts, culture and entertainment.

Source: www.thedistillerydistrict.com

O’Keefe and Associates involvement in the project began is 2002. Our mandate for the project was to establish a detailed development budget for the restoration and redevelopment of the 18 buildings or 284,800 square feet building area. Our review and analysis of the project began by completing an “as is” assessment of the site by completing a comparative analysis of the existing to the proposed. Once we had established the starting point we were able to work closely with the development team to create a detailed restoration and renovation budget for each building on the subject site.

As construction on the site progressed, our firm was appointed as the project loan monitor by the Lender. In our capacity as the loan monitor, we established a close working relationship with the accounting and support staff for the project to effectively review all requirements as required by the Lending institution.