The Global Village Backpackers building is up for sale. Founded as the Richardson House Hotel way back in 1873, the building has also been referred to as the Falconer, the Ziegler, and later, the Spadina Hotel. With the closure of the hostel in January, the site is now on the open market. There's no established price, as the property is "being offered for sale on an unpriced modified bid basis." Just exactly how much the 130 year old building will go for is difficult to guess.

The site has been listed on Toronto's heritage registry but lacks the protected status that comes with official designation. In any case Heritage Preservation Services will be involved in any applications to modify the property. At present, the building height at 460 King St. is restricted at 39 metres, which means space could possibly be added atop the current structure.

One can only hope that someone will restore the building in the same manner as we saw with the Big Bop or, more recently, the Dineen Building at Yonge and Temperance. Given that the building has functioned as a hotel/hostel for the entirety of its existence, one can dream that it would be reborn as a boutique hotel along the lines of the Drake but with the added pomp of a King West address. Sure, I probably couldn't afford to stay at this hypothetical place, but it'd be a nice addition at one of Toronto's marquee intersections.

Photo by Chris Barker