TORONTO — Casa Loma may receive a new fine-dining restaurant and more dedicated event space, plus $7 million in capital improvements, if a deal goes through that will see Liberty Entertainment Group operate the main house and grounds.
Owned by the City of Toronto, the 110-year-old castle at 1 Austin Terrace has been without an operator for more than two years, since a previous agreement with the Kiwanis Club expired.
The city is recommending Liberty Entertainment Group, which operates the Liberty Grand, Spice Route and Rosewater in Toronto, enter a 20-year lease that will include adding a high-end restaurant on the ground floor rooms and terrace, while renting out spaces for banquets and special events.
“They’ve done an excellent job at the Ex of respecting the heritage component and also providing a business model that works for them and works for the city,” Toronto city councillor Joe Mihevc told metronews.ca, of Liberty Entertainment Group’s operations.
The report will be considered by an executive committee at the end of the month; it will be put before city council Nov. 13.