“OK, east-enders, climb down off the ceiling. Jilly’s is not going anywhere.” So wrote theNational Post‘s Peter Kuitenbrouwer in 2013, when rumours circulated that the Broadview Hotel, located at Queen and Broadview, was structurally unsound and its well-known tenant—Jilly’s strip club—could be on its way out.

Well, east-enders can climb back onto the ceiling, because Streetcar Developments—which has worked on other projects in the area—has announced that it has purchased the building, originally constructed in 1893. Jilly’s, whose lease was on the verge of expiring, will be departing, as will those who’ve made the hotel home.

Streetcar will begin by addressing “significant structural issues” and then turn its focus “to revive this building to a landmark everyone in the area can be proud of.” According to the news release, that likely won’t involve condominiums—so is the Drake Hotel poised to face some healthy east-end competition?