Quote:
Originally Posted by hamilton23
To be honest, this wasn't entirely a city hall decision. I think the decision ultimately came down to whether or not the developer wanted to invest tens of millions in this development. As I mentioned, the immediate surrounding areas in Gore Park aren't exactly a tourist destination and I have personal doubts about whether or not a boutique hotel would currently be financially viable in Hamilton. From a developers perspective, I would have reservations about building something like this right now.
However, within 5-10 years, this area will be screaming for a boutique hotel. Once the LRT nears completion in the area, other developments are built, more businesses begin operating, etc, then we'll see a ton of interest in this sort of thing in the Gore.
If the developer holds onto the buildings, they should continue restoration on the buildings and either turn them into apartments, condos or offices. The developer could also continue restoration and eventually build this project once the area screams for it...Just my two sense.
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Considering you just converted a hotel to condos you are probably right about the lack of viability. Besides they just built those hotels farther down by george st.