A group of supporters of the Matador Ballroom believe the historic night club can be saved yet, and has proposed a community-driven bond purchasing scheme which has helped similar spaces live on in the city.The Matador, which has lain dormant since it closed eight years ago, was expected to soon re-open its doors following a lengthy bureaucratic odyssey. After finally having its application accepted by the city to be rezoned so as to allow it to host musical performances, it appeared the Matador, once an infamous after-hours bar, was on track to be reborn as a year-round events space and restaurant, starting next spring.Then in mid-October, co-owner Paul McCaughey announced he was departing the project and the building where the Matador is housed, at 466 Dovercourt Rd., will be put up for sale. It’s since been listed for $4.9 million.Despite a history in the community dating back more than 100 years, McCaughey admitted ‘investor fatigue’ had played a role in the seemingly untimely end of the Matador, its final fate likely to be the future site of a residential development. But after hearing the group’s proposal to issue community bonds, McCaughey tells the Bloor West-Parkdale Neighbourhood Voice he’s intrigued to learn more about the idea in the hopes it can be used to purchase the site and run the Matador’s operations as a nonprofit.“I think I have one more campaign left in me (to save the Matador),” said McCaughey. “And this would be it.” Read more:City in need of that old Matador magic: KeenanToronto’s Matador is back in limbo yet againMatador might never reopen as venue operators grow tired of endless fight for musicUnder the terms of the proposal put forth by Ryan Collins-Swartz and Stephanie Pinnington, from the community investment nonprofit organization Tapestry Capital, bonds of varying dollar amounts would be issued for a fixed term to anyone interested in taking part. McCaughey, who met ...
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