It’s official. The Anglican Church of Canada now owns the first four floors and basement of 80 Hayden St., Toronto. After more than two years marked by delays, moving snafus and numerous post-occupancy problems, General Synod – the national office of the Anglican Church of Canada – finally assumed ownership of the property on July 13.
“It’s good news. It’s done. We now own everything from the brick in. It’s what you would call a freehold property,” said General Synod treasurer Peter Blachford.
General Synod staff moved out of their old office at nearby 600 Jarvis St. in June 2004 after the property was sold to Philmor Ltd., a Toronto-based developer specializing in mixed-use residential and office complexes. General Synod acquired office space of about 40,000 square feet – four levels and the basement of the 21-storey building at the 80 Hayden property – as a condition of the $3.65 million sale in 2002 of the Jarvis Street building. General Synod paid $2.7 million for the Hayden Street property. Mr. Blachford said that TD Canada Trust has approved a $2 million collateral mortgage (line of credit) for General Synod. So far, General Synod has borrowed “around $200,000” to finance various ventures, including the closing costs of the building, he said.
“I’m happy it’s over,” Mr. Blachford said of the negotiations for the property. Both sides had to deal with many issues, most of them related to construction. The latest problem involved the issue of who was responsible for fixing a leaking vent in a mechanical room which is housed above the General Synod archives vault. The vents were fixed in June after nearly a seven-month wait.