The next chapter for 508 Queen St. W. won’t be another live music room after all. The old Velvet Underground space is now being marketed as Hyve, a nightclub and event space billing itself as “Toronto’s premier nightlife experience.” Its online rollout, though, is getting a bit of side-eye across social media.
For starters, Hyve’s online presence is a bit confusing: depending on whether you’re looking at the venue’s .com or .ca site, the club is either “coming soon” or already up and running.
The new concept also looks like it’ll be a full pivot from Velvet’s more intimate concert venue. Expect a flashier, VIP-nightlife model that includes a raw industrial-chic room with Funktion-One sound, LED-heavy production, themed nights spanning techno, afrobeats, hip-hop and house, as well as VIP tables, bottle service and dedicated hosts.
The venue does promise to be an inclusive, safe space with a zero-tolerance policy for harassment, but people on Reddit still have thoughts. In a recent thread, one commenter wrote that Hyve “sounds like an energy drink,” while another said that the venue “really doesn’t fit into the surrounding old building aesthetics at all.”
More than a few also said the site’s pictures and text seem a bit off, pointing to non-working ticket buttons, broken social media links and out-of-date event listings (users added that the “grand opening” date is listed as Friday, Jan 17, which would have been 2025, and an indexed page on the Canadian domain says that the venue “has become the definitive destination for those seeking a premium nightlife experience”).
Perhaps a lot of the piling on is tied to what the address used to be. Velvet Underground had long been part of the Queen West nightlife, first as a mid-90s club associated with emo and goth-themed dance nights and 102.1 The Edge broadcasts, then, after a 2015 shutdown and renovation, as a live-music venue that reopened in February 2016. Over the years, the venue became a familiar stop for touring acts and locals alike, even hosting Alanis Morissette’s Jagged Little Pill release party in 1995!
Velvet’s closure was announced last September, when the venue said its lease was ending and the property was being returned to the owner for a new chapter. At the time, the loss hit a nerve because the Velvet was joining a growing list of Toronto venues that music fans have watched disappear, including spots like the Bar Orwell, The Orbit Room, Cold Tea Bar, The Hideout and the Dakota Tavern.
If nothing else, the new site is bringing up all sorts of nostalgic feelings for OG Underground dwellers.
“Their website makes the place sound awful. Door policy to ensure a ‘sophisticated’ atmosphere; get outta here,” a Reddit user noted. “I spent so many wonderful nights at Velvet. It’s a real shame to see it turned into what sounds like a mediocre and likely overpriced club. The VIP booth comes with a sparkler show, though, so there’s that.”
If you’re curious about what happens next at the space, follow @hyve.toronto for updates.


