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I'm so exited to see this intersection and this stretch of King transform in the next 3 years. The Mac residence, this development, the Vranich one across the street, the LRT. It's going to be unrecognizable. Thousands of new residents spending money at the shops (and future restaurants/bars) is going to be such a boom for the area. And the LRT will make you feel like you're in a much bigger city. Very cool!
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Can anyone post a re-direct link for the article? Love to read it.
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From eyesore to sexy: ‘Radio Arts’ latest Hamilton downtown revival project
New residential development taps into 1960s AM radio heritage By Jon Wells Spectator Reporter https://www.thespec.com/business/202...l-project.html If a building can be almost famous by virtue of its unsightliness, the monument to the utility of brown metal siding just west of Jackson Square might qualify. The warehouse downtown at the northeast corner of King Street West and Caroline Street, for five decades home to Hamilton Store Fixtures, was dubbed an “ugly duckling” in the Spectator; a few years ago a chunk of the siding dangerously sheared off in a windstorm. But the 114-year-old building is shedding its metal skin, poised to become the latest development rising from the core’s gritty past, as the “Radio Arts” condos. The name invokes a former life of the building at 206 King St. W. from the 1960s. Proponents depict the planned residential space as hip and community-oriented, and the building may also be the first in Hamilton to offer a stacked car parking system. The developer, Toronto-based Vernon Shaw, told the Spec there will be a ground-floor coffee house that channels the fictional “Central Perk” meeting spot from “Friends.” (Shaw said Starbucks need not apply; he is a fan of local coffee shops like the Mulberry.) The 14-storey, 122-unit building will be marketed toward McMaster University graduate students, as well as doctors, nurses and other “young professionals,” he said. Most of the units will be priced under $575,000. Hunter Milborne, a consultant on the project, suggested the price in the context of the current real estate market is “not drastically low, but it’s affordable.” The building still needs final site plan approval from the city once zoning points are ironed-out, but downtown councillor Jason Farr said that approval is a “slam dunk,” and that an additional construction crane will soon be added in the core. Farr added that among the “unprecedented” number of projects coming to fruition downtown, Radio Arts has “amazing qualities.” Next to large residential towers, Radio Arts falls more in the “boutique” category, said Milborne. By comparison, final site approval is imminent for a 635-unit residential complex at 75 James St. S., across from the YMCA. Farr said preparation work on that project is well underway. Shaw, who finished acquiring the Radio Arts property in 2018 and is president of the Canlight Group, suggested smaller residential buildings encourage community-building. “This (Radio Arts) is the perfect size ... The thinking is that residents can spend leisure time in the building, in the lounge or fitness studio or workspace, and get to know each other.” Erika McCarthy, partner at Burlington-based Baudit Interior Design, lives in Hamilton, and as a teenager rode the bus downtown along King. She remembers eating at the old Harvest Burger restaurant, next door to the building wrapped in brown that you never noticed much. “You always knew it was there but it was an eyesore with that siding,” she said. “It’s super exciting for me to be part of the team involved in the Radio Arts project, in my city, and with the direction the city is taking.” McCarthy uses words like sexy and moody to describe the vibe of the envisioned space: “The kind of place you want to hang out in.” Radio Arts was the logo the development team discovered on the weathered mosaic tile lobby of the original building. Back in November 1959, CHIQ 1280 AM radio opened there with a classical music format: “Hamilton’s New Love; Beautiful CHIQ Music,” read one promo. In February 1964, David Marsden — known as “Dave Mickie” — was spinning records for CHIQ, presumably still classical, even as the DJ hosted a “Teenage Dance” for fans of the Beatles at King’s Hall on King Street, the Spec reported. (About 15 years later, Marsden developed an alternative radio format called the “spirit of the radio” at CFNY FM, a phrase that inspired the title of the iconic Rush song. Marsden’s animated likeness and name appear in the song video.) CHIQ left the building in 1967, moving further east on King, reborn as CHAM. Shaw said the new building will offer “brick and beam” touches from the ground-up in the four-storey podium section, and they hope to reclaim old timbers and artifacts. The architect behind the project is KNYMH, the firm that designed the Royal Connaught building. Shaw said he hopes final city approvals happen in the next three to four months, and residents start living in the new building possibly two years from now. In the mid-1990s, Shaw led the redevelopment of the Pigott building on James Street South. He said investors back then were warned to stay away from downtown Hamilton. That talk brought back memories for Shaw of his native England, where short-sighted critics had said similar things about economically depressed areas of London. “It’s incredible what I’ve seen take place in Hamilton,” he said. “After a gloomy period, the city is now enjoying its day in the sun.” |
Now 14 stories as per the article.
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Thank you SteelTown! Appreciate the gesture. Sounds like a promising build since they've nailed something that's bothered me, no boutique or more interesting builds downtown for residential. Not saying this will win any awards, but it's a start.
If they're going to start marketing Radio Arts before rates go up, they better hurry since the first increase is possibly coming in two weeks. Markets are pricing in at least five Bank of Canada (BoC) rate hikes this year. At the last meeting BoC officials indicated they’re ready to begin raising rates early this year to quell pricing pressures (inflation) after keeping the key policy interest rate at a historic low of 0.25% since March 2020. |
Photos from the story. I really like the interiors they have planned.
https://images.thestar.com/2ZWpAELhu...ect/lounge.jpg https://images.thestar.com/BvpNaLZ_F...bywithlogo.jpg https://images.thestar.com/yQ6KRdqw2...ominterior.jpg Source: https://www.thespec.com/business/202...l-project.html |
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pre-construction buyers aren't going to pay much attention to that anyway from my understanding is they don't need to lock down a mortgage until they close on it once the unit is built. The rate that will matter to buyers is the one that is in place in 2025 when the building is done and the condo is registered.
All the developers get up front is the deposit, which can be as little as a couple thousand dollars and by law has to be cash, as it is part of the required downpayment on the property. |
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Also, these are anything but normal times. We're experiencing unusually high levels of inflation due to large government spending at the moment and other pandemic related pressures. If you're on a variable rate mortgage, i'd think about getting in touch with your bank soon. Edit: This article came out just today. https://www.bnnbloomberg.ca/bank-of-...rgan-1.1706717 |
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You have to remember. Ontario has had like 25 straight years of increasing housing prices. People think the sky is the limit. |
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Nice find! With an LRT train no less!
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https://1.bp.blogspot.com/-jf7NVZ4Yb...in+a+hurry.gif |
The LRT with no overhead wires. I guess it's going to be diesel powered.
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Also technically trams can use dynamic ground third rail without wires, though that brings many problems and is more difficult to implement. |
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I don't think this: 315 Spadina Ave. https://maps.app.goo.gl/2BzJ8o8QMCpULdHK6 https://i.imgur.com/gQnUclvh.jpeg https://i.imgur.com/vLGdrZkh.jpeg Looks any worse than this: 36 Cannon St E https://maps.app.goo.gl/1BCe1gY4eyHJiDm57 https://i.imgur.com/HyfWX5Wh.jpeg Furthermore on the topic of this development, I don't think that's why they didn't include the wires. It's probably because the poles would obstruct the view of the development, as they do with remove trees or making them see through to see the development proposal. |
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