The public will, part 2: The historical preservation of the Revue Theatre is in the public interest.
Despite the good will generated by the McQuillans’ commitment to keeping the Revue as a cinema, it must be made clear that they continue to be against the designation of the theatre as historically significant because of the implications that designation may have on the building’s future property value. Indeed, it appears that the owners will actively oppose designation on June 22nd when the Toronto Preservation Board presents its case to City Council and the general public is also allowed to make deputations on the matter.
And this should not be surprising, given that designation is not really in their interests as landlords of the building. As landlords who may one day wish to sell, they would naturally be against anything that decreases the possible market value of the building because it limits the flexibility of any future development. NorthRonces.com’s, however, is more concerned with the public interest and asks the following question: “Does historical designation benefit the community’s desire to maintain the Revue theatre as a neighbourhood cinema?” (next page…)