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The article mentioned that a coffee shop was going to locate there. Who is the new property owner of 259 James North? It would have been nice to get their take on this story.
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The owners of Hotel Hamilton (home of Mulberry Coffee) bought the building. I guess they aren't worried about competition. The building also houses Needlework (definitely staying put) and Olinda's Fashion.
This isn't the first casualty of rising fortunes on James. I guess a new business puff piece isn't the place for balanced coverage, but another one is glossed over here:
http://www.thespec.com/news-story/52...designer-says/
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I guess it's easy to say Tim Francis (and other artists like him) could always find a cheaper place to rent elsewhere in the city, now that their efforts to turn around James North have made the real estate much more valuable for these new property owners.
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As a recently displaced business owner, it rubs me the wrong way when people suggest moving to Barton St. or elsewhere. (Like, why don't YOU move to Barton Street?) Who decides who is worthy to stay on the street they helped revitalize, and who ought to do just fine somewhere else? Maybe it just hurts because it's true.
My views have changed somewhat since the great 'Fat Cats' gentrification debate circa 2010. You can't fault those with the means for improving old buildings and expecting a profit. However, as Jane Jacobs said, new ideas need old buildings - in which rent no longer finances construction or renovation costs. Those absentee landlords we love to hate, happy to collect the rent and otherwise let nature take its course, maybe deserve a bit more credit.