Richmond Mews, 287 Richmond St E: 15 Lofts in an Old Instrument Factory

Richmond Mews is one of the smallest loft buildings in downtown east Toronto, and one of the hardest to buy into. Fifteen suites in a converted instrument factory, 11-foot ceilings, patios on the ground floor and terraces on the roof, a block from the King East and St. Lawrence pockets. It is the opposite of the glass towers going up around it, and that is the whole point. I’m Jatin Dua, RE/MAX Quantum Realty.

From instrument factory to 15 lofts

The building began as an instrument factory and was converted into lofts in the late 1990s. One loft-specialist site credits the conversion to Alan Gordon in 1997, while condos.ca lists Nova Construction as builder and records registration in July 1998. Those are not necessarily in conflict, since the developer and the builder are often different firms, but it is worth knowing both names appear.

The sources disagree on height. condos.ca records three storeys, while the same loft site describes a five-storey factory. The difference may come down to how the roof-level terraces and any mezzanines are counted, so check the registered plan rather than relying on either figure.

From the street the building is white brick and concrete, plain and industrial. It does not try to look like a warehouse; it simply is one, at a size that fits between the Victorian houses and newer mid-rises on this stretch of Richmond.

Eleven-foot ceilings and two-storey suites

Suites are reported at roughly 800 to 1,300 square feet, in one-bedroom, one-bedroom-plus-den and two-bedroom plans. Some are on one level and some are two storeys, which in a building this small means there is real variety from suite to suite.

Ceilings are reported at 11 feet, with hardwood floors, large multi-pane windows and exposed structural elements. That is genuine loft volume, not the nine-foot ceilings of a newer soft loft.

Outdoor space is the other differentiator. Ground-floor suites have private patios and top-floor suites have rooftop terraces, which is unusual for a conversion and valuable downtown. Confirm whether your patio or terrace is exclusive-use common element or part of the unit, since that affects who pays to repair it.

A recent upper-floor listing gives a sense of how far the best suites go: a loft bedroom opening straight onto a private rooftop terrace, skylights, a gas fireplace, a gas range, forced-air gas heating with central air, and a locker. Heating and cooling appear to be handled suite by suite rather than centrally, which explains why heat is not in the fee.

What a 15-suite corporation means

There is very little in the way of shared amenities here: a security system, permission for barbecues, and parking. No gym, no party room, no concierge. That keeps the operating budget lean and focused on the building itself.

The flip side is that 15 owners share every large repair. A roof membrane, a masonry program or a garage repair in a building this size lands on a small number of owners, so the strength of the reserve fund matters more than it would in a tower. Read the reserve fund study, the status certificate and recent minutes before you firm up.

Small buildings also live or die by their owners. With 15 suites, one owner who stops paying common expenses, or two owners who disagree about a renovation, is noticeable. Going to an annual general meeting, or at least reading two years of minutes, will tell you more about this building than any listing will.

condos.ca lists Goldview Property Management. In a small building, the quality of the manager and the engagement of the board make a large difference, so ask how long the current manager has been in place.

Richmond and Sherbourne, day to day

This is a central east-downtown location. Walk south and you reach King Street East’s furniture and design showrooms and then the St. Lawrence Market; walk west and you are in the Financial District. Richmond is a one-way westbound street with commuter traffic, so street-facing suites will hear rush hour.

The blocks around Richmond and Sherbourne have filled with new condominiums over the past fifteen years, including Imperial Square and Space Lofts nearby, and more are coming. Expect construction around you and the occasional change in your views. The automatic panel on this page covers transit, schools and walkability.

Pricing a loft that rarely trades

There is no reliable building average per square foot for Richmond Mews. With 15 suites, sales are infrequent and each one is different enough, two-storey versus single-level, terrace versus none, that an average would mislead you more than it helps.

When I price a suite here, I use the building’s own history alongside hard-loft sales in nearby conversions such as Space Lofts and other King East and Corktown factory buildings. Authentic hard lofts with outdoor space are scarce downtown and usually command a premium over newer soft lofts per square foot. Parking in the fee is a quiet advantage too: in this part of downtown a separately rented space can add a meaningful monthly cost, so factor that in when comparing against a newer building.

The fee includes common elements, building insurance, water and parking, which is a good structure for a small building. Heat and hydro are not listed as included, so ask the seller for a year of utility bills; tall ceilings and big windows cost more to heat. At the time of writing, a single suite was listed for sale. For aggregate recent trades, see my building sold report.

Building specifications

Amenities at Richmond Mews

There are no shared amenity rooms here; the value is in the suites themselves, especially the patios and terraces. That keeps costs down and puts the reserve fund to work on the structure, which is where an old factory needs it.

Jatin’s honest take on Richmond Mews

Richmond Mews — frequently asked questions

Looking at Church–Wellesley, Corktown, Moss Park and Cabbagetown more broadly? Start with my Toronto community guide — the neighbourhoods, what each pocket is like, and how they compare.