A prominent condo developer has purchased the historic Broadview Hotel at Queen and Broadview in Riverdale and its plans to dress up the iconic east-end location don’t include undressing — or building condos.

Streetcar Developments says Jilly’s, the strip club which occupies the building’s main floor, will close its doors for good in 60 days and about 40 residents at the hotel will be displaced.

Even though solid plans for the building’s future haven’t been released, Streetcar CEO Les Mallins told CityNews on Monday that condos aren’t in the cards.

“Condo buildings are often very private in nature,” Mallins said. “They are for the unit owners and their select guests. What we are looking for is something that can be enjoyed by the wider public. I think that’s the direction we are heading.”

CityNews.ca called Jilly’s on Tuesday, but a woman claiming to be the owner did not want to comment.

Mallins said the company will consult with the public and local businesses before announcing its ultimate direction, but didn’t rule out a boutique art hotel similar to the west end’s Gladstone Hotel.

“Certainly the history of this building was a hotel operation…it’s certainly something that would be very interesting. They’ve done a great job over there so it’s certainly within the realm of possibility.

“(Right now) the focus is on restoring this building,” he added, saying there are structural issues with the property, which is well over 100 years old.

Regardless of the direction, Mallins calls the building “the jewel of Riverside” and says its history will be respected.

“All of it will be maintained…It’s not our intention to demolish it or knock it down or change it materially.”

“I think any time you can take steps to restore such an important building for a neighbourhood, I think that in and of itself is a good contribution to the community.”

CityNews reporter Adrian Ghobrial will have a full report on CityNews at 5 and 6.