HISTORY [ABOUT L'ESPRIT]

In 1985, the property on which L’Esprit Condominiums would be built was owned by the partners who built St. Jamestown. Celebrity Place (77 Maitland Place) was brand new and was operating as an apartment complex (rental only). It was a period straddling two recessions, and governments were concerned that the housing stock was inadequate to meet demands.

Through their development company, Philmor L’Esprit Development, Morris and Philip Macarz acquired the property in 1986 and secured approval from the City of Toronto to construct the complex that now stands on the property. On part of the present location of 60 Homewood Avenue stood a house which had been designated an historic site. It was relocated to the corner of Maitland Place and Homewood Avenue, and construction began on the rest of the complex.

In 1990, the Declaration and Bylaws of Metropolitan Toronto Condominium Corporation 905 (MTCC905) were registered. The development, as constructed, consists of a 21-storey high-rise (15 Maitland Place) with 240 units; and L-shaped 5-storey low rise (60 Homewood Avenue) with 166 units, and additions to the historic house providing a total of 3 units in the corner building. In the early years of the complex, many owners purchased units as rental income properties but, over the life of the complex, more and more units became owner-occupied. By the time the complex was 20 years old, the vast majority of units were owner-occupied.