Inside the race to convert vacant offices into rental homes
A Toronto office building near Eglinton Avenue and Don Mills Road that had been fully leased for more than 40 years is 80-per-cent vacant since the pandemic, which catalyzed work-from-home options and tenants’ flight to newer, more modern spaces.
To keep up with the times, the owner of 250 Ferrand Dr., which first opened in 1976, now plans to convert the 15-floor building into 331 loft-style rental apartments.
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"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "