THE OLD PEASE Foundry Company building (211 Laird Dr.) is to be put on the Ontario Heritage Act list.
The building formerly used to manufacture heating and plumbing supplies, was bought with the intention of demolishing and redeveloping it.
Once the proposal came before the city, the Toronto Preservation Board was asked to take some control over the development.
“It’s a kind of a good news story,” said Geoff Kettel, chairperson of the North York Preservation Panel. “The developer agreed to not tear it down but to work with the heritage features of the building and improve the property.”
The structure, built in the 1950s, exhibits Art Moderne style, or an arch-like structure.
The one-storey building will be developed into a two-storey commercial building, including a Toronto Dominion Bank and office space. The City of Toronto has put controls on the zoning bylaw and building permits, and once finished, it will be listed under the Ontario Heritage Act.