Hot Docs sells flagship Toronto Cinema for $ 6.25 million, draw multi -year lease

Hot Docs, the organization behind Canada’s largest documentary film festival, has announced the sale of its flagship cinema in Toronto. The buyer, described as a “neighbor who is interested in supporting the arts in Toronto,” has chosen to remain anonymous. The sale price for the building on Bloor Street West was reported to be $6.25 million.

The decision to sell the cinema was made last year as a result of financial pressures that were threatening the future of the festival. Despite the sale, Hot Docs will continue to operate the space under a multi-year lease agreement.

The cinema, a cultural landmark in the area, has long served as a hub for the Hot Docs Festival. In addition to screening Canadian and international documentaries, the venue has hosted special events and showcases.

As part of the transition, two veteran employees have resigned from Hot Docs. The organization is now focused on rebuilding and moving forward after what has been described as the most tumultuous year in its history.

Hot Docs is optimistic about the future and sees the sale of the cinema as the beginning of an exciting new chapter. The organization remains committed to promoting and supporting the art of documentary filmmaking in Canada.