Council of Jewish Women sells building for $6.5 mil
After 53 years at 4700 Bathurst St., the National Council of Jewish Women of Canada (NCJWC) has decided to sell its building and find a new home, citing declining memberships, decreased revenue, and building disrepair.
For years, the council rented the upstairs spaces to prominent Jewish organizations such as the B’nai B'rith Youth Organization, the Weizmann Institute and Zareinu. However, the rental spaces have been sitting mostly empty for about three years, save for one tenant, the Israeli Cultural Foundation, still renting a small spot, according to Ena Cord, immediate past president of the NCJWC.
“We lost a couple of our principal tenants upstairs, so our revenue was decreasing,” said Cord. “We could not afford to put money into the building to bring it up to standard for rent.”
In January, the board decided to open up its oneacre property to bids on the market, with the help of Colliers International. By June, they had received six bids for the property. They went with an offer of $6.5 million from Front Door Developments, who intend to develop a mid-rise apartment building on the site.
This sale coincides with the 120th anniversary of the NCJWC. The council was the first women’s organization in Canada and was established in Toronto. The organization has grown to encompass chapters in Winnipeg, Edmonton and Vancouver. The NCJWC is currently working with Colliers to find a building to move into; it has been given 18 months to settle on a new location.
“We’re continuing to be strong and vital as we move forward,” said Cord. “However, not in the building that we have been in for 53 years.”