Aging Riverdale mansion listed for sale for $1
The William Harris House is seen at the corner of Pape and Riverdale avenues. (Architectural Conservancy of Ontario)
Chris Herhalt, CP24.com
Published Wednesday, March 16, 2016 12:23PM EDT
A crumpling Riverdale mansion once owned by a storied food magnate has been listed for sale online for the bargain-basement starting price of one loonie.
The William Harris House, built sometime in the 1880s, is 25,220 square feet and sits at the corner of Pape and Riverdale avenues
But its true value is probably somewhat higher than a dollar. It contains a large mansion and an adjacent three story brick apartment-style structure.
After serving for decades as the Salvation Army’s Cranfield House for single mothers, the heritage-designated Harris House was sold in 2011 to a developer for $1.7 million, after originally being listed for $2.5 million.
The developer intended to refurbish the adjacent brick structure, which is not heritage-protected, and convert the building into a small condominium. But that plan appears to have failed.
With prices for Toronto real estate climbing by leaps and bounds since, it’s not really known how much the property is worth today.
Its latest realtor states that the property paid taxes of $35,207 in 2015, suggesting it has an assessed value of about $5,000,000.
The last time the home was sold was in 1927 when the son of its original owner sold it to the Salvation Army for $20,000 or $276,000 in 2016 after adjusting for inflation.
Its realtor calls it an “excellent development opportunity in the heart of Riverdale.”
William Harris was a well-known entrepreneur who started Harris Abattoir, which eventually became known as Maple Leaf Foods. The business operated several plants in the East York area in the late 19th and early 20th centuries.