berklon said:
The law of supply and demand will take effect either way. If they have troubles renting out a substantial amount of units at their current pricing - then they'll have no choice but to drop the price.
Getting some money is better than no money.
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They probably assumed people would be willing to spend more money since it is right in the gore. Some will sure, but not as many as they probably thought.
 
Hopefully this whole thing gets some momentum. If not, there is a decent chance that Hamilton's downtown growth will sputter out for a good while.
 
TheHonestMaple said:
I didn't say there was anything wrong with it. I'm saying it won't be a problem filling this up, come September.
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Sure there's a problem with it - it means these places are like the william thomas and just filled with transitory students whose rich parents pay for them to be there - it's not native-born people settling in the core and forming communities and neighbourhoods. (and don't twist that into a racist thing please those "native born" people can be of any nationality)

The question should be what and with whom is filling the downtown core? Is it long lasting? Will it promote long lasting cultural change? Or will these places be revolving doors of people? They say we have a housing crisis but these places are NOT aimed at the average joe who is from here looking for places to live - they are aimed at people from toronto or as was said foriegn people with rich parents, or in some cases retirees looking to downsize..

but where is the local hamilton youth going to live? Affordable housing is basically for the poor, and these are basically for the rich.. so they're still not making places the average person can afford to live in in hamilton. Not that in any market the average joe would most likely be able to afford to live right in the core - it's not the 1930s or 40s anymore..
 
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I mean... it's a luxury rental. It's not intended for lower income folks. It has multiple gyms, activity rooms, pool, spas, etc. Only people with money are going to be able to live here. High earning professionals, and foreign students or domestic students using big lines of credit.

My hope is buildings like this one, 75 James, Design District, etc, will attract high earning professionals that will then slowly attract professional service firms to set up offices in downtown Hamilton. High paying engineering, accounting, other financial service firms. Then Hamilton might finally snowball.
 
TheHonestMaple said:
I mean... it's a luxury rental. It's not intended for lower income folks. It has multiple gyms, activity rooms, pool, spas, etc. Only people with money are going to be able to live here. High earning professionals, and foreign students or domestic students using big lines of credit.

My hope is buildings like this one, 75 James, Design District, etc, will attract high earning professionals that will then slowly attract professional service firms to set up offices in downtown Hamilton. High paying engineering, accounting, other financial service firms. Then Hamilton might finally snowball.
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There are literally people walking around screaming and begging just around the corner from this building, using needles and pooping in the alleyways - you gotta deal with THAT problem FIRST - they might have a nice fancy new place - but theyre still across from a core thats half boarded up and falling apart with people who should be in mental institutions wandering around harassing people or sitting on the corner of king and james on mats begging (or telling everyone the world is gonna end in front of jackson lol)

we are kinda in a weird spot where we think if we just fill the core with rich people the problem will magically fix itself - but it won't - WE know what the vibe is in that area, and I am pretty sure anyone that wanders around there will too. Decades worth of that isn't just going to evaporate overnight. So rich professionals see that and go "eesh.. no thanks, I'll find somewhere else if I am going to be spending this much on a place".

I remember I had a friend that worked in one of the hotels downtown and the amt of scary stories he had of people just wandering in and being destructive in some way was just insane.

It is like someone cut a knife between king street and king william street - king william street is what gore park on king street is supposed to be - but it's had several layers of corruption and rot and it still shows. We're slowly trying to turn things around but it's like redirecting a river, it takes time, with lot of resistance.
 
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Chronamut said:
There are literally people walking around screaming and begging just around the corner from this building, using needles and pooping in the alleyways - you gotta deal with THAT problem FIRST - they might have a nice fancy new place - but theyre still across from a core thats half boarded up and falling apart with people who should be in mental institutions wandering around harassing people or sitting on the corner of king and james on mats begging (or telling everyone the world is gonna end in front of jackson lol)

we are kinda in a weird spot where we think if we just fill the core with rich people the problem will magically fix itself - but it won't - WE know what the vibe is in that area, and I am pretty sure anyone that wanders around there will too. Decades worth of that isn't just going to evaporate overnight. So rich professionals see that and go "eesh.. no thanks, I'll find somewhere else if I am going to be spending this much on a place".

I remember I had a friend that worked in one of the hotels downtown and the amt of scary stories he had of people just wandering in and being destructive in some way was just insane.

It is like someone cut a knife between king street and king william street - king william street is what gore park on king street is supposed to be - but it's had several layers of corruption and rot and it still shows. We're slowly trying to turn things around but it's like redirecting a river, it takes time, with lot of resistance.
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I actually disagree on this point. I actually think it will.
 
TheHonestMaple said:
From what I understand, one of the towers is completely empty. The other has a number of units rented out.
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Tower A is the one that is currently being rented out. It might not be up to date, but the Web site as it reads now suggests that literally 289 out of 290 units from floors 2 through 30 are available for rent in that tower.
 
BCTed said:
Tower A is the one that is currently being rented out. It might not be up to date, but the Web site as it reads now suggests that literally 289 out of 290 units from floors 2 through 30 are available for rent in that tower.
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I don’t think that’s accurate. I’ve been in the buildings. There are way more than 1 unit occupied in the one tower. Must not be up to date.
 
TheHonestMaple said:
This thing will fill up with rich foreign students.
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Students vary significantly. When I was in uni around the time the province started pumping students into the system, there were many rich east Asians popping up on campus.

Then there were also stories from other campuses where rich Gulf students allegedly paid to have their assignments done by other students.

But the Indians received much less parental support and were mostly paying their own way (scarping by).

rdaner said:
And the problem with that is? You Hamilton people are so funny! 🤣
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It's a self evident problem when foreign money displaces people already here, duh?
 
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