In 1985, the property on which L'Esprit Condominiums would be built was owned by the partners who built St. Jamestown. Celebrity Place (77 Maitland Place) was brand new and was operating as an apartment complex (rental only). It was a period straddling two recessions, and governments were concerned that the housing stock was inadequate to meet demands.Through their development company, Philmor L'Esprit Development, Morris and Philip Macarz acquired the property in 1986 and secured approval from the City of Toronto to construct the complex that now stands on the property. On part of the present location of 60 Homewood Avenue stood a house which had been designated an historic site. It was relocated to the corner of Maitland Place and Homewood Avenue, and construction began on the rest of the complex. more... See more text