A world-class fashion house in the heart of Riverside

A world-class fashion house in the heart of Riverside. Riverdale residents Stephan and Sharida Caras purchased this century-old bank and spent three years transforming it into their fashion house.

Ten years ago, Caras, along with his wife, Sharida, purchased the 110-year-old building, which is designed by Frank Darling and John Pearson - the same architects behind the Parliament buildings in Ottawa as well as the Royal Ontario Museum.

Soon after, the couple began the arduous task of transforming the long-neglected edifice at the corner of Queen and Grant streets into the world headquarters of their dreams while still being mindful of its 1985 heritage designation.

"It was a total, total mess in here. It was almost a derelict building," Stephan said during a recent tour of the space, which was featured in the 2010 Doors Open Toronto festival in May.

Over the years, the circa-1905 property changed hands several times and was leased out and renovated for a variety of uses including restaurants, an insurance company, an architecture firm, a dental office and even a "private members'" nightclub.

Like the building, the community itself was in a bit of a slump, Stephan said, when they first relocated to the area a decade ago, a far cry from the emerging area it is today.

Stephan Caras Design Inc., which was founded in 1984, was originally headquartered near King and Bathurst streets but as the area developed many of the fashion designers and manufacturers there relocated to the Dufferin and Hwy. 401 area.

But that move wasn't part of the plan for the couple.

"We wanted to buy a building for our business and we wanted to stay downtown," Sharida said.

Stephan agreed.

"I just couldn't think I could spend another 10 to 15 years in that area."

And so began the extensive search for their new home.

Stephan said he knew right away the former Canadian Imperial Bank of Commerce building at Queen Street East and Broadview Avenue would be the ideal place for his future showroom and design studio.

"Immediately when I looked at the building I knew what could be done but it would take a lot of time and care," Stephan said, adding he could see the building's good structure and special features the same way he views the clothing he designs.

"It was scary but I saw the opportunity to create a beautiful space. The building's very solid."

The Caras' spent more than three years renovating the space retaining a team of architects, engineers and contractors to help fulfill their oft-complex vision.

"I would look for ways to do things when I was told things couldn't be done. Creativity is everywhere," Stephan said, recalling how when they first took possession of the building every single window was either boarded up or painted over in black.

The entrance hall's main door was painted over in eight colours, all of which he painstakingly stripped down.

There was also extensive water damage that needed to be addressed, among other things.

"Everything has been removed. There's nothing from that era here now," Stephan said.

"We pulled everything down. It was just the bare walls, a complete gut reno."

Today, a huge fireplace graces the gallery-like main floor boutique and showroom, which opened last spring. The bank's former vault now serves as a dressing room.

An eye-shaped, spiral staircase leads up to a stunning top floor design studio and boardroom, which features a fabric wall.

An adjoining building at 1 Grant St. - believed to be the original bank manager's residence - can now be accessed through a restored side entrance and rear staircase, which was also painted over in eight different colours.

The building's basement has also been completely renovated into a bright, open space where a small team of seamstresses bring Caras' "pret-couture" clothing designs to life.

"It was unreal the way it was," Stephan said, adding his fashion house has to be an inspiring environment as he spends 14 or 15 hours there seven days a week.

Sharida said the beautiful space is now like their second home.

"Once we decided to take on the reno project, we didn't look back. It was full steam ahead," she said.

"We felt a sense of fearlessness despite the immense challenge ahead and somehow it all worked out."

These days, Stephan and his assistant fashion director, his 27-year-old son Kyriako, are busy designing spring and winter/fall collections.

The Caras' also regularly travel to France and Italy sourcing out fabrics, trims and accessories.

Sharida, a former model and ex-clothing boutique owner, serves as the company's vice-president handling the business side of things as well as managing the retail space.

"Our clients get a unique experience. They leave looking and feeling like a million bucks," Stephan said.

"We take pride in what we do. We really do take care."

The couple, who married in 1984 and has lived in Riverdale for the last 21 years, also have an 18-year-old daughter, Dion, an aspiring actress and fashion lover.

START IN GREECE

Stephan Caras learned to sew in his father's studio in Greece when he was just six years old.

By the age of 14, he moved to Australia and within a few years was studying fashion design at the Royal Melbourne Institute of Technology and the Fashion Designer's Academy of Melbourne.

Caras founded his own custom fashion design business when he was 19 years old and went on to design for major fashion houses like Hermes, Pierre Cardin and Guy Laroche, among others.

A few years later, Caras relocated to Toronto and said he immediately knew this was the place he'd call home.