Industrial Revolution II, 670 Richmond St W: 12 Lofts in a Decca Warehouse

Industrial Revolution II has one of the better back stories of any Toronto loft: it was a Decca Records warehouse before Bob Mitchell turned it into 12 hard lofts. The suites run over several levels, with skylights and private terraces, on a quiet stretch of Richmond West a block from Queen. Twelve suites is very few, and that cuts both ways. I’m Jatin Dua, RE/MAX Quantum Realty.

From record warehouse to 12 hard lofts

The building was a warehouse for Decca Records before it was converted into 12 lofts. The conversion was by Bob Mitchell, whose firm was one of the early names in Toronto loft conversions. Next door, at 676 Richmond, the same developer converted a former knitting mill into Industrial Revolution I a year or so earlier.

The two buildings are often mentioned together, but they are separate condominium corporations with different managers, budgets and rules. If you are looking at both, compare their status certificates side by side rather than assuming one tells you about the other.

Twelve suites makes this one of the smallest condominiums in the area. There is no lobby staff and no amenity floor, and the board is drawn from a group small enough to fit around a dining table.

That small scale is a big part of the appeal. You are not sharing elevators, hallways and a lobby with hundreds of people, and many of the decisions about the building are made by neighbours who live there. It also means the building’s reputation rests on a handful of owners, so it is worth asking how many suites are owner-occupied and how many are rented out.

Multi-level suites built for space

What sets this building apart is the shape of the suites. Published features of suites here describe layouts over three levels, high and vaulted ceilings, warehouse-style windows, exposed ductwork, skylights over the top floor and private terraces, with some looking toward the CN Tower. These are closer to townhouses inside a warehouse than to standard condo suites.

Condos.ca lists the building at two storeys, and its recorded size data is thin, so do not rely on it. At least some multi-level suites here exceed 2,000 sq ft. Ask for a measured floor plan, and check the size against the declaration.

Three-level living is wonderful for some buyers and simply wrong for others, and there is no shame in knowing which one you are. If you are buying with a long horizon, walk the stairs several times and think honestly about how the layout will work in 10 or 15 years.

What 12 owners means in practice

In a 12-suite building, every repair is shared among a dozen households. A roof, masonry work or a garage repair that would barely move the fee in a tower can mean a large special assessment here. A well-funded reserve and an engaged board are the difference between a great building and an expensive one.

Read the reserve fund study, the latest budget and several years of board minutes. Ask when the roof, terraces and skylights were last redone, because those are the items most likely to leak in a converted warehouse with roof-level outdoor space.

Talk to your mortgage lender about the building early. Some lenders take a closer look at very small corporations, and you do not want to discover that after you have firmed up an offer.

A quiet block between Queen and King

This part of Richmond West, west of Bathurst, is a calm, tree-lined residential stretch. Queen Street West is a block north, with its shops, restaurants and galleries, and King West is a short walk south. The King Street Transit Priority Corridor starts at Bathurst and runs east.

In December 2024, City Council adopted a heritage conservation district plan for Queen Street West from Bathurst to Dufferin, meant to guide how the main street changes. For transit times, schools and walkability, see the data panel on this page.

Day to day, this is a location that works on foot. Groceries, coffee, gyms and Queen West’s restaurants are a few minutes away, and Trinity Bellwoods Park is a short walk west along Queen. The trade-off for a quiet residential block is that the nightlife of Queen and King is close enough to enjoy and far enough to sleep through.

What Industrial Revolution II costs

Condos.ca puts the average at about $866 per square foot. With only 12 suites and few sales in any year, treat that as a rough indicator. One sale can move the average, and large multi-level suites usually trade for less per square foot than compact ones.

No suites were listed for sale or lease when I checked, which is normal here. When a suite does come up, it competes less with condos and more with houses and townhouses in the neighbourhood, so price it against those as well. With so few suites, there may be no recent sale inside the building at all, which means a careful look at comparable hard lofts and townhouses nearby is the only honest way to set a price.

Fees cover common elements, building insurance, water and parking. Heat and hydro are not listed as included, so budget for both and ask for recent utility bills, since heating three levels of tall warehouse space is not cheap. For what comparable lofts nearby have traded for, I can pull it through my building sold report.

Building specifications

Amenities at Industrial Revolution II Lofts

Amenities are minimal: parking, a security system and permitted barbecues. In a 12-suite hard loft that is a feature, not a flaw, because you are not paying for a gym or staff, and your outdoor space is your own terrace.

Jatin’s honest take on Industrial Revolution II Lofts

Industrial Revolution II Lofts — frequently asked questions

Looking at Queen West, Trinity-Bellwoods, Kensington and Little Italy more broadly? Start with my Toronto community guide — the neighbourhoods, what each pocket is like, and how they compare.