Budget Breakdown: $394K Later, This Toronto Toy Factory Turned Loft Finally Feels Like a Home

When Canadian entrepreneur Yupeng Liu first toured this loft in Toronto’s Leslieville neighborhood, it had a curious mix of industrial drama and oddities: a built-in waterfall, a urinal in the bathroom, and steel-heavy finishes that made the space feel more like a hotel lobby than a home. Still, Yupeng saw that it had promise. "It had personality, it just needed a new point of view."

That point of view came from local firm Studio AC Architecture and Design.

Before: Staircase

The loft sits inside a former toy and bottling factory that was converted into live/work spaces in the early 2000s, and it shows. The bones were always strong: double-height ceilings, exposed pipes, skylights, and huge south-facing windows that flood the space with light. But the finishes were tired, and the layout never quite worked for daily life.

Despite its generous proportions, it wasn’t easy to live in. Yupeng, who is the CEO of a food import and distribution company, spent two years in the loft as-is, making sure he loved the neighborhood before committing to a major renovation. The open layout amplified every shortcoming: minimal storage, cold industrial finishes, and dramatic volume that prevented the space from feeling like a home. "It felt more like a warehouse or factory," Yupeng says.

After: Staircase

When he was ready to renovate, Yupeng reached out to Studio AC with a detailed design brief. Functionally, he wanted to reclaim wasted space, introduce smart, hidden storage, and modernize the kitchen and bathrooms into fully functional rooms. Emotionally, he wanted the loft to feel like a grounded, restorative home—warm, streamlined, and welcoming, rather than overwhelming.