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Toronto neighbourhood pushes back against new condo replacing the Palace Arms Stay in the loop Sign up for our free email newsletter. Unsubscribe anytime or contact us for details. Toronto is no stranger to condo towers replacing beloved establishments or heritage buildings, but one in particular really has locals up in arms as of late: the tower set to replace the Palace Arms Hotel. The Romanesque Revival building, recognizable by its dingy pink exterior and unique corner turret, has graced the corner of King and Strachan Streets for more than 130 years. It served at one point as a hotel and tavern, later transforming into a low-income rooming house. ....