Industrial Revolution I, 676 Richmond St W: Knitting Mill Hard Lofts

Industrial Revolution I is what most people picture when they say “hard loft”: a former knitting mill on a quiet, tree-lined stretch of Richmond West, with exposed brick, wood beams, big windows and a fireplace in every suite. It has about 20 suites and almost no amenities, and for the right buyer that is the whole point. For the wrong buyer it is a mistake. I’m Jatin Dua, RE/MAX Quantum Realty.

A real hard loft, from a loft pioneer

The building was a knitting mill before it was homes. It was converted to lofts in the mid-1990s; one local source puts the conversion at 1996, and the condominium was registered in August 1997. The developer was Bob Mitchell, whose firm was one of the early names in Toronto loft conversions and also converted the neighbouring building at 670 Richmond, Industrial Revolution II, and Claremont Hall Lofts near Trinity Bellwoods.

This is a true hard loft rather than a new building in a loft style. Suites are known for exposed brick, timber beams, hardwood floors and large windows. That is the real thing, and the supply is fixed: genuine factory conversions cannot be built new, so each one that exists is all there will ever be.

Sources differ slightly on the suite count. Condos.ca lists 19 suites, while its own building description refers to 20 lofts. Either way, this is a very small corporation, and that shapes everything from fees to decision-making.

Fireplaces, terraces and multi-level suites

Two features set this building apart from other small conversions. Every suite is described as having a fireplace, and almost every suite has a terrace or patio. Private outdoor space is uncommon in hard lofts, where the original factory walls often leave no room for balconies.

Some suites are multi-level, and the largest run to about 2,000 sq ft. Condos.ca lists the building at two storeys, but with multi-level suites, the number of levels inside a given suite can be more than that suggests. Ask for the floor plan and walk the stairs before you commit, especially if you are planning to stay into later life.

Modern conveniences were built in during the conversion: air conditioning, underground parking and gas hook-ups for barbecues on the terraces. Those are things many older hard lofts lack, and they make daily life much easier.

Living in a building of about 20 owners

A building this size runs more like a co-operative of neighbours than a condo tower. There is no concierge to take parcels and no on-site staff, so owners tend to handle more themselves, and the board is drawn from a very small group. When that group is engaged, small buildings are often the best-run buildings in the city.

The money side is the risk. Roofs, masonry, windows and the underground garage are expensive in any building, and here the bill is shared among about 20 owners. Fees in small buildings can look modest until a major repair comes due, which is why I put more weight on the reserve fund study here than on the monthly fee.

Ask the status certificate questions early: how much is in the reserve fund, when the last study was done, what major work is planned in the next five years, and whether any special assessment has been discussed. Also talk to your lender about the building early, since some lenders take a closer look at very small corporations.

A quiet street a block from Queen

This stretch of Richmond West, west of Bathurst, is quiet and tree-lined, which surprises people who know Richmond only as a busy one-way street further east. You are a block south of Queen Street West, with its shops, restaurants and galleries, and a short walk north of King West.

In December 2024, City Council adopted a heritage conservation district plan for Queen Street West from Bathurst to Dufferin, meant to guide how that main street changes. To the south, the King Street Transit Priority Corridor starts at Bathurst and runs east. The data panel on this page covers transit, schools and walkability.

Living here, you get the best of both: a front door on a calm residential stretch, and Queen West’s restaurants, bars and shops a couple of minutes away. If you work downtown, the Financial District is within reach by streetcar or bike, and the side streets around Richmond and Tecumseth make for an easy daily walk.

What Industrial Revolution I costs

Condos.ca puts the average at about $779 per square foot. In a building of about 20 suites with multi-level layouts up to 2,000 sq ft, treat that as a rough guide. One or two sales can move it, 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. That is normal for a building this small. Suites come up rarely, and genuine hard lofts with a terrace and a fireplace near Queen West have a loyal buyer pool, so be ready to move when one does.

Fees include 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 a tall brick space costs more than a modern condo. For what comparable hard lofts nearby have traded for, I can pull it through my building sold report.

Building specifications

Amenities at Industrial Revolution I Lofts

There is no gym, concierge or party room here. You get underground parking, bike storage, a security system and gas barbecue hook-ups on the terraces, which is exactly what a hard-loft buyer usually wants: lower shared costs and more of the money in the suite itself.

Jatin’s honest take on Industrial Revolution I Lofts

Industrial Revolution I 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.