Companies like Allied Properties REIT are buying up every building that hits the market and currently own over 150 brick and beam properties across Canada in Toronto, Montreal, Winnipeg, Quebec City, Kitchener, Calgary and Vancouver.<\/p>\n\n\n\n
The Toronto Carpet Factory, made up of seven timber buildings in Liberty Village, has become the heart of Toronto\u2019s creative community, housing tech startups, interior design, marketing, entertainment and fashion studios and public relations agencies. Buildings such as the Gooderham and Worts Distillery, St. Lawrence Market and numerous other old timber buildings along Spadina, Adelaide, Richmond, John, Peter, King, Queen and Front Streets have become the core of our fashion and entertainment districts.<\/p>\n\n\n\n 500-522 King Street West, Toronto \u2013 Courtesy of Allied Properties REIT<\/a><\/em><\/p>\n\n\n\n According to a Senior Recruiter with Softchoice Corporation, a tenant in The Toronto Carpet Factory, \u201cmost candidates who come in to visit comment immediately on how \u2018cool, funky, and different\u2019 our office environment is and that really seems to resonate with them. People spend so much time at work that it really ought to be a comfortable environment, one that exudes energy and inspires productivity.\u201d<\/p>\n\n\n\n Other tenants describe the TO Carpet Factory as having an abundance of creative energy and openness, and offering the best and most sought after working atmospheres in the city, allowing us to easily find and retain good people, which is youthful, exhilarating and attractive to a new corporate culture.<\/p>\n\n\n\n When asked what it is about the buildings that Allied find so appealing, Michael R. Emory, President of Allied Properties REIT said: \u201cIt\u2019s the natural surfaces. They\u2019re authentic. Tenants love the open space and high ceilings. They identify with the space and it defines them. When we purchased our first Brick and Beam buildings and recession hit, they were the only buildings that remained fully occupied: from that point forward things exploded, we couldn\u2019t create space quickly enough.\u201d<\/p>\n\n\n\n Michael Cruickshank, Partner in York Heritage Properties; co-owner of the Toronto Carpet Factory together with Hullmark Developments Ltd, agrees: \u201cWhile my partner and I have always been attracted by the solid brick and beam buildings constructed at the turn of the last century, the truth is they\u2019ve also made for excellent investments.\u201d<\/p>\n\n\n\n![\"\"](\"https:\/\/elementfive.co\/content\/uploads\/2021\/06\/500-522kingwest.jpg\")
<\/a><\/figure>\n\n\n\nWhat is it we love so much about these old buildings? Why is it that these buildings attract innovators, creative and performance companies as tenants? <\/strong><\/h4>\n\n\n\n
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