Considering this was the 3rd or 4th version of the design he didn't save anything.
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- Thread starter Kiwi
- Start date
caltrane74
Senior Member
You know at first I was skeptical. But now that I've seen Harry's plan. I think it will work. We know how much people in Hamilton ascribe to the condo lifestyle. And we know how rich Hamilton is. And of course, we know that Hamilton has become the top international destination in Canada where people are placing investment dollars.
When you do the math, it makes more than sense. It's odd that no one has ever attempted building such a structure before. I can't believe Harry Stinson was the first to come up with this brillant idea.
Why didn't I think of this, I would be a millionaire (perhaps billionaire) already?
When you do the math, it makes more than sense. It's odd that no one has ever attempted building such a structure before. I can't believe Harry Stinson was the first to come up with this brillant idea.
Why didn't I think of this, I would be a millionaire (perhaps billionaire) already?
scarberiankhatru
Senior Member
Is there any real market for condos in Hamilton? I know of that one conversion behind the train station, but would a Stinson Special work if it was scaled back (ha, yeah right) to a 30 storey condo on top of a renovated hotel?
AlbertC
Superstar
From HAMRetrofit @ SSP:
Bentley
Active Member
I guess you gotta look at the demographics and crunch the numbers. How many new people moving into the city per year, current housing stock, new starts (in Hamilton's case almost entirely single family res).
If the numbers work, maybe there is market for a few hundred units? The current structure will have around 100 units, which should be achievable for the end of 09. At that point I think it will come down to re-evaluating the marketplace, and determining demand.
I really can't see anything happening that could warrant an 80 storey tower in the next 3 or 4 years, but hey who knows. A 30 storey tower seems more realistic.
Maybe he'll build a sort of "unofficial residence" for Mac students. I have friends at Mac who live downtown who I think would be more than happy to rent in a new building as opposed to some of the run down stuff they're stuck with at the moment.
If the numbers work, maybe there is market for a few hundred units? The current structure will have around 100 units, which should be achievable for the end of 09. At that point I think it will come down to re-evaluating the marketplace, and determining demand.
I really can't see anything happening that could warrant an 80 storey tower in the next 3 or 4 years, but hey who knows. A 30 storey tower seems more realistic.
Maybe he'll build a sort of "unofficial residence" for Mac students. I have friends at Mac who live downtown who I think would be more than happy to rent in a new building as opposed to some of the run down stuff they're stuck with at the moment.
Kiwi
Active Member
If Stinson doesn't close the deal within 29 days the current owners of the Royal Connaught plan to build a 25 storey condo tower, the land has been approved for 80 meters. Stinson's plan is a lot more ambitious, seem fitting for the "Ambitious City".
If Stinson completes phase I and has the fund for a condo tower I would say he'll want a tower that's at least taller than the current tallest, 43 storey (Landmark Place).
If Stinson completes phase I and has the fund for a condo tower I would say he'll want a tower that's at least taller than the current tallest, 43 storey (Landmark Place).
dt_toronto_geek
Superstar
Did Landmark Place used to be called Century 21?
EnviroTO
Senior Member
I think that news article from EMAAR is a joke. Lets be serious... Burj Hamilton??
Jayomatic
Active Member
Maybe Harry should have done his research first to know that if there was any demand for condo units in Hamilton, developers would be having a field day with the hundreds of empty warehouse space in the city. Sorry Harry but if someone can buy a turn of the century victorian just outside downtown for 90K, why would they spend 200K on a 1 bdrm unit just a couple blocks away.
Kiwi
Active Member
Yes, orginally it was Century 21 but now it's Landmark Place, change or ownership I believe.
Core Loft (next to Hamilton's City Hall) was very successful and it sold out in a single day.
You'll be hardpress to find a Victorian house in Hamilton for $90,000 or even a dump in East Hamilton for $90,000. Average house price in Hamilton broke the $300,000 mark this year.
Stinson during a radio interview yesterday said condo units for the Connaught Hotel will be affordable ranging from $149,000 to $299,000, that includes typical Hotel services as well. For the condo tower (Phase II) the range will be from $250,000 to $3 million. If all goes well the Sales Office will open within 3 months at the front lobby of the Connaught Hotel for condo units.
jaborandi
Active Member
While I won't be holding my breath waiting for this to actually get built, it should be noted that this site is very close to the Hamilton GO Centre and quick easy access to downtown Toronto.
Kiwi
Active Member
If you guys want to get detailed information about this project than listen to this radio interview with Bill Kelly and Harry Stinson from yesterday. Contains a lot of information. It's where I'm getting most of my information from, talks about Phase I and II, including retail, price range, Hamilton GO Station less than 5 minute walk, etc.
http://www.900chml.com/station/feature_interviews.cfm?rem=100053&jor=100053&StartRow=1
http://www.900chml.com/station/feature_interviews.cfm?rem=100053&jor=100053&StartRow=1
EnviroTO
Senior Member
Sure it is near the GO station today but from what I am hearing CP isn't too receptive to increasing GO service on the line due to capacity issues and GO/VIA are considering a station on the CN line.
Jayomatic
Active Member
Actually if you have a look at mls you'll find many great old houses under 125K which i still think is a better bet than buying some unit in this building.
flar
Active Member
House prices are going up fast in Hamilton. Those under $200K houses are near industrial areas. Anything in the more desirable neighbourhoods (basically south of Main) are upwards of $250K.