Using historic buildings to create loft apartments is a growing trend in urban real estate. Rather than demolishing old buildings, churches and other structures, they are being turned into stylish lofts that combine modern design with the unique charm of historic architecture. This approach combines sustainability and cultural preservation, and is also convenient for residents.
It also brings a number of benefits for the city’s architecture. In addition to improving the visual appeal, and respecting heritage, such buildings act as a balance to high-rise projects, and are often located in the downtown area. Features such as original brickwork and restored doors and windows contribute to the vintage feel and timelessness of the city’s historic districts.
Along with the aesthetic features, residents of such buildings also get access to all the necessary amenities such as fitness centers, coworking spaces, rooftop BBQ/patios and others.
Y Lofts (Peterborough, ON)
One prominent instance is the Y Lofts in downtown Peterborough. It is based on the Peterborough YMCA building, built in 1896, which was meticulously restored, improved, and turned into 136 rental suites. This historic building is still what it was – the face of Civic Square – but inside it has been transformed into a number of modern lofts, each offering contemporary design. In addition, the building has a number of advantages such as:
- Historical appeal: renovated from the 1896 YMCA building, today this building continues to serve the community, now as rental apartments.
- Aesthetics: during the restoration, the visual features of the facade and interior have been preserved, while finishes and some elements have been updated.
- Amenities: fitness center, rooftop terrace, business center, lobby lounge, party rooms and more
George Street Lofts (Peterborough, ON)
Another example is the George Street Lofts, an 1879 French Second Empire building, converted into a modern apartment complex that features:
- Historic architecture: 1879 restored aesthetics on the exterior, and spacious rooms (10-15.5 ft ceilings) inside
- Location: centrally located in the heart of Peterborough, offering convenient access to important points of the city, and walking distance to stores and restaurants.
- Modernity: smart fixtures, personalized climate control, modern kitchen appliances, add comfort to every room.
Options for Renters and Investors
For those who want to become tenants or investors, these and other historic lofts present various opportunities. The same heritage loft can have both budget and premium options. For example, Prism Property Management presents these options:
- A 450 sq ft studio loft at 475 George St. N (Y Lofts building) for $1,890/month
- An 802 sq ft two-bedroom loft at 475 George St. N (Y Lofts building) for $2,640/month.
These options represent a variety of loft housing options, from small one-bedroom units, to large multi-bedroom suites, which is another advantage to consider.
Whether you are a renter looking for a home with charm, or an investor attracted by the potential of restored historic buildings, heritage lofts are a classic style with modern amenities, and a feel that few buildings can match.