Jamesville Lofts | 11-15 Cannon St. West | ? | 6 fl | Under Construction - Page 3

timach · #1 Posted **Nov 10, 2018, 8:23 PM**

Quote:

Originally Posted by TheRitsman

I mean I have nothing against Micheal, but it seems a lot of the developments he works on fall through as well, or disappear. The Jamesville lofts "nearly sold out immediately", but then the website hasn't been updated since like last year, and it still says stuff about a March 2018 sales event.

Seems like a lot of developers are looking at Hamilton but are trying to gamble these plots of land and developments like stocks and wait until they can get maximum profit instead of starting once they've got their money. 85% sold out is massive, and if that is the case, they should start building immediately because they know there is a market and they should be purchasing and building asap, instead they are building slowly to keep the costs of units artificially high.

I believe this to be an agreement among all developers to maintain a high cost to real estate in Ontario. There are only a few developers that I don't think are doing this, Darko being one, but he waits until his stuff is built apparently to sell, unless I am mistaken about 20/22 George in that the building is nearly finished and no units have been sold.

Seems like it kinda. I bought a unit in vista, 10/22 is almost all the way up and in the same time they cant get six floors done lol

hamilton23 · #2 Posted **Nov 20, 2018, 9:17 PM**

Quote:

Originally Posted by TheRitsman

I mean I have nothing against Micheal, but it seems a lot of the developments he works on fall through as well, or disappear. The Jamesville lofts "nearly sold out immediately", but then the website hasn't been updated since like last year, and it still says stuff about a March 2018 sales event.

Seems like a lot of developers are looking at Hamilton but are trying to gamble these plots of land and developments like stocks and wait until they can get maximum profit instead of starting once they've got their money. 85% sold out is massive, and if that is the case, they should start building immediately because they know there is a market and they should be purchasing and building asap, instead they are building slowly to keep the costs of units artificially high.

I believe this to be an agreement among all developers to maintain a high cost to real estate in Ontario. There are only a few developers that I don't think are doing this, Darko being one, but he waits until his stuff is built apparently to sell, unless I am mistaken about 20/22 George in that the building is nearly finished and no units have been sold.

Darko builds right away because his projects are mainly apartment buildings and not condos. Therefore, there are no sales number or milestones that he has to achieve prior to construction. He has to hope people rent the units in his buildings, but he's not depending on sales since he doesn't sell his units.

He did begin by selling at 150 Main and then converted them into rentals after people moved in and then decided to sell them again while people were renting. Not sure how all that worked out, but I know his other buildings are rental buildings or apartments (i.e. 20/22 George)

MichaelStJean · #3 Posted **Nov 13, 2018, 8:40 PM**

Not sure what projects have fallen through? Can you name more than one project that I have sold that fell through? The only project (where the builder went bankrupt( was The Connolly. That will be re-launching and you will be hearing about it VERY soon. What does that have to do with me? I did my job and sold 80% of a 30 storey building between 2 sales events. All approvals and checks were in place. What does that have to do with me? As far as Jamesville goes... we are planning to begin demolition/construction hopefully in the next 30 days. I cannot divulge other personal details but know everything is fine and moving forward. These projects are not easy and it takes time to put things together. Just because you can't SEE things happening doesn't mean a lot isn't going on behind the scenes. I've sold over 20 entire communities/projects in Hamilton... 1 had an issue which certainly was not sales related. Check your facts before making these statements.

TheRitsman · #4 Posted **Nov 13, 2018, 11:13 PM**

Quote:

Originally Posted by MichaelStJean

Not sure what projects have fallen through? Can you name more than one project that I have sold that fell through? The only project (where the builder went bankrupt( was The Connolly. That will be re-launching and you will be hearing about it VERY soon. What does that have to do with me? I did my job and sold 80% of a 30 storey building between 2 sales events. All approvals and checks were in place. What does that have to do with me? As far as Jamesville goes... we are planning to begin demolition/construction hopefully in the next 30 days. I cannot divulge other personal details but know everything is fine and moving forward. These projects are not easy and it takes time to put things together. Just because you can't SEE things happening doesn't mean a lot isn't going on behind the scenes. I've sold over 20 entire communities/projects in Hamilton... 1 had an issue which certainly was not sales related. Check your facts before making these statements.

Was just poking to get more info

worked, didn't it

TheRitsman · #5 Posted **Mar 14, 2022, 7:24 PM**

Quote:

Originally Posted by MichaelStJean

Not sure what projects have fallen through? Can you name more than one project that I have sold that fell through? The only project (where the builder went bankrupt( was The Connolly. That will be re-launching and you will be hearing about it VERY soon. What does that have to do with me? I did my job and sold 80% of a 30 storey building between 2 sales events. All approvals and checks were in place. What does that have to do with me? As far as Jamesville goes... we are planning to begin demolition/construction hopefully in the next 30 days. I cannot divulge other personal details but know everything is fine and moving forward. These projects are not easy and it takes time to put things together. Just because you can't SEE things happening doesn't mean a lot isn't going on behind the scenes. I've sold over 20 entire communities/projects in Hamilton... 1 had an issue which certainly was not sales related. Check your facts before making these statements.

Ouch

matt602 · #6 Posted **Mar 15, 2022, 5:00 PM**

Quote:

Originally Posted by TheRitsman

Ouch

lol ALL of that aged terribly. Meanwhile several years later we haven't heard anything about the Connolly aside from the usual pandemic excuses, never mind the "VERY soon".

TheHonestMaple · #7 Posted **Mar 15, 2022, 9:07 PM**

Quote:

Originally Posted by matt602

lol ALL of that aged terribly. Meanwhile several years later we haven't heard anything about the Connolly aside from the usual pandemic excuses, never mind the "VERY soon".

Can't remember where I read it, but the last I heard a few months ago the current owner has basically abandoned the project. Something about financial issues again.

StEC · #8 Posted **Mar 15, 2022, 10:08 PM**

Is it just me or does it seem a handful of projects have stalled and new proposals have slowed to a trickle the last year? We had a flurry of proposals and construction starts the last 5 years but it seems all the buzz has gone dormant.

Hoping the lightening strikes again soon and we see all the stalled proposals start up and new proposals start rolling in again!

TheRitsman · #9 Posted **Mar 15, 2022, 11:44 PM**

Quote:

Originally Posted by TheHonestMaple

Can't remember where I read it, but the last I heard a few months ago the current owner has basically abandoned the project. Something about financial issues again.

May want to read the previous page lol

davidcappi · #10 Posted **Nov 14, 2018, 2:26 AM**

Looks like the delay is with the city (I think, can't confirm)

This will change from Review to Issued when the city grants the go ahead. On the bright side, it's steel construction so it'll go up relatively fast once it starts.

Jon Dalton · #11 Posted **Nov 14, 2018, 10:44 PM**

You're also involved in the development on MacNab St North next to the GO station, can you fill us in on that project? I was surprised to see the derelict property leveled all of a sudden as there's been nothing in the news or on here about it. Glad to see something is happening there.

TheRitsman · #12 Posted **Jan 13, 2019, 3:41 PM**

Any updates on this? The building that exists here is looking more decrepit by the day...

king10 · #13 Posted **Jan 13, 2019, 6:53 PM**

Didnt sales hit over 80% over a year ago? Hopefully we see some action soon and there arent any issues.

Perhaps even more important than this lot is the one just to the east of it. That row of vacant buildings on james is an eyesore.

timach · #14 Posted **Jan 14, 2019, 2:40 AM**

Quote:

Originally Posted by king10

Didnt sales hit over 80% over a year ago? Hopefully we see some action soon and there arent any issues.

Perhaps even more important than this lot is the one just to the east of it. That row of vacant buildings on james is an eyesore.

I swear I just saw St. Jean post on instagram that construction is starting very soon