Downtown Update - Page 18

raisethehammer · #**341** Posted **Apr 16, 2008, 3:48 PM**

Quote:

Originally Posted by fastcarsfreedom

Hmmm...so the city is pulling the loans on projects that aren't proceeding so it can redirect the monies to projects that are proceeding? Where is the negative in that?

there isn't a negative. it's a smart move. we'll see new announcements in June with this new money.

SteelTown · #**342** Posted **Apr 16, 2008, 4:05 PM**

They'll be lots more new projects in June because of the extra $10 million, probably even more pricey projects as well.

Goldfinger · #**343** Posted **Apr 16, 2008, 6:28 PM**

Quote:

Originally Posted by SteelTown

They'll be lots more new projects in June because of the extra $10 million, probably even more pricey projects as well.

This may be a bit optimistic for the short to medium term. I am seeing pullback in alot of areas of the GTA including downtown Toronto. Money is just too tight right now to be comitting to anything big.

I would also like to see some absorption numbers for all the condominium units that have been buit to date. This is a key piece of research that's missing, it seems no one is tracking sucess rates of these projects, Core Lofts asside.

I am also a bit skeptical of Gord Moodie's assesment that Darko was going to focus on the Hilton project. The conduits have totally dried up and there is no money available for any new large scale hotel projects anywhere.

HAMRetrofit · #**344** Posted **Apr 16, 2008, 6:40 PM**

^ where are you getting your information from the side of a lunch box?

Nothing in Toronto has dried up or is going too. The absorption of Hamilton condos is sustainable otherwise we would be hearing about it.

JT Jacobs · #**345** Posted **Apr 16, 2008, 7:01 PM**

Quote:

Originally Posted by Goldfinger

This may be a bit optimistic for the short to medium term. I am seeing pullback in alot of areas of the GTA including downtown Toronto. Money is just too tight right now to be comitting to anything big.

I would also like to see some absorption numbers for all the condominium units that have been buit to date. This is a key piece of research that's missing, it seems no one is tracking sucess rates of these projects, Core Lofts asside.

I am also a bit skeptical of Gord Moodie's assesment that Darko was going to focus on the Hilton project. The conduits have totally dried up and there is no money available for any new large scale hotel projects anywhere.

I disagree on a couple of counts:

1) Even if the TO market is a bit arid--and I doubt it--Hamilton real estate development represents a unique situation for potential developers. The TO market is appropriately pricey, but Hamilton represents the next untapped market in the country. Now that your Saskatoons and Reginas and Halifaxes have topped up, Hamilton is next. There is no cheaper major market. Hamilton's proximity to TO makes it all the more attractive. If Ontario heads into a recession, then developers will look for the cheapest local market to develop. Barrie and Hamilton are already leading the way. It'll happen. It is happening.

2) Pretty much the same goes for Hamilton hotels. If there's money to be made at something--even in Hamilton--chains and developers will flock to Hamilton to make that money. Hamilton, as we've discussed before, is obviously underserved for hotels. Why else would the Crowne Plaza spend $7 million in renovations? Because it's a lucrative niche market in Hamilton that has few players. If the Hilton doesn't go up, someone else will step in and develop some appropriate, tall downtown hotels in the near future.

2)

HAMRetrofit · #**346** Posted **Apr 16, 2008, 7:10 PM**

Here is an article in the Star about it.

http://www.thestar.com/living/article/309424

Hamilton's condo will see growth in 2008. Why?

a. Still untapped for quality projects. Macro trends elsewhere in Canada indicate this is a trend in every major center, it will hit Hamilton.

b. Changing demographics and work force. Hamilton is seeing a decrease in manufacturing and increase in white collar and research related jobs. These groups are statistically the more likely condo buyers.

c. Confirmed investment in Rapid Transit. Better interregional connections to the GTA.

raisethehammer · #**347** Posted **Apr 16, 2008, 7:43 PM**

I spoke with a real estate agent today and they told me that Hamilton is booming.
Especially Downtown/Locke/North End etc.....

Also, I read in the new H Magazine that the Madison has 'filled up' quickly.
Anyone able to verify that?

Goldfinger · #**348** Posted **Apr 17, 2008, 1:44 AM**

Quote:

Originally Posted by HAMRetrofit

^ where are you getting your information from the side of a lunch box?

Nothing in Toronto has dried up or is going too. The absorption of Hamilton condos is sustainable otherwise we would be hearing about it.

Did you get this scoop from your Century 21 guys?

Goldfinger · #**349** Posted **Apr 17, 2008, 1:56 AM**

Quote:

Originally Posted by JT Jacobs

I disagree on a couple of counts:

1) Even if the TO market is a bit arid--and I doubt it--Hamilton real estate development represents a unique situation for potential developers. The TO market is appropriately pricey, but Hamilton represents the next untapped market in the country. Now that your Saskatoons and Reginas and Halifaxes have topped up, Hamilton is next. There is no cheaper major market. Hamilton's proximity to TO makes it all the more attractive. If Ontario heads into a recession, then developers will look for the cheapest local market to develop. Barrie and Hamilton are already leading the way. It'll happen. It is happening.

2) Pretty much the same goes for Hamilton hotels. If there's money to be made at something--even in Hamilton--chains and developers will flock to Hamilton to make that money. Hamilton, as we've discussed before, is obviously underserved for hotels. Why else would the Crowne Plaza spend $7 million in renovations? Because it's a lucrative niche market in Hamilton that has few players. If the Hilton doesn't go up, someone else will step in and develop some appropriate, tall downtown hotels in the near future.

2)

Developers don't control the money supply and costs of borrowing, the banks do.

Where do you think they are going to get the financing for these great projects. If a lender has limited capital available and the choice to finance a guy getting $450-480 psf in Toronto with a proven market or a guy getting $175-$215 psf in Hamilton with similar construction costs, who do you think they are going to choose?

Hamilton, like alot of other smaller centres in Canada has been a beneficiary of cheap and plentiful capital that made alot of the high risk downtown projects viable. This is no longer the case, the local guys will have to compete with the big dogs for a piece of a smaller pie.

DC83 · #**350** Posted **Apr 17, 2008, 9:14 PM**

I was walking down James South today and saw two new shops opening beside Chateau Royale: Simply Devine Cakes http://simplydivinecakes.com/index.html & Green Deli/Sandwich Cafe (or something like that).

DC83 · #**351** Posted **Apr 23, 2008, 4:25 PM**

Quote:

Originally Posted by DC83

The new Shawarma place I was talking about at John/Jackson beside Tailgate Charlies... wow this street is really picking up, eh? Think it has anything to do w/ two-way conversion?

This place opened this week... different signage outfront though.
I believe the original owners backed out, and the new ones put up a new sign. There was a eviction notice on the door of the shop all March, so who knows.

But it's finally open! Haven't tried anything yet, though I plan on it soon! Mmm Shawarma!

ps: There are also two new shops opened in the block on the east side of John between Augusta & Young... looks like an Art gallery and an Antique Shop.

itsbryan · #**352** Posted **Apr 23, 2008, 4:33 PM**

Quote:

Originally Posted by DC83

This place opened this week... different signage outfront though.
I believe the original owners backed out, and the new ones put up a new sign. There was a eviction notice on the door of the shop all March, so who knows.

But it's finally open! Haven't tried anything yet, though I plan on it soon! Mmm Shawarma!

ps: There are also two new shops opened in the block on the east side of John between Augusta & Young... looks like an Art gallery and an Antique Shop.

You mean with Safin, Safrin, Christophers, My Buddy's, and Lulus, you haven't had enough shawarmas?

DC83 · #**353** Posted **Apr 23, 2008, 4:42 PM**

Quote:

Originally Posted by itsbryan

You mean with Safin, Safrin, Christophers, My Buddy's, and Lulus, you haven't had enough shawarmas?

hahaha I know, eh! What's the one in the main floor of Maxims stripjoint? I think that one is the best! Sadly, My Buddies is closing down and moving up the hill (if not already?).

I'm just excited about all the new business that has opened up along John since two-way conversion! And not just eateries either, but a tattoo parlour, a cpl job placement places, a computer store... ok. two-way works, we get it

hahaha

ps: WELCOME TO THE FORUM, itsBryan!

Jon Dalton · #**354** Posted **Apr 23, 2008, 4:59 PM**

Maybe this shawarma place is actually decent. I don't hold out much hope, but regardless, I'm glad it's there. I just noticed those two new places at James and Augusta. That place was vacant with the old I.M. Mart sign for ages. I hope the new businesses are there to stay.

itsbryan · #**355** Posted **Apr 23, 2008, 5:02 PM**

Quote:

Originally Posted by DC83

hahaha I know, eh! What's the one in the main floor of Maxims stripjoint? I think that one is the best! Sadly, My Buddies is closing down and moving up the hill (if not already?).

I'm just excited about all the new business that has opened up along John since two-way conversion! And not just eateries either, but a tattoo parlour, a cpl job placement places, a computer store... ok. two-way works, we get it

hahaha

ps: WELCOME TO THE FORUM, itsBryan!

Thanks for the welcome.

That shawarma place is Safin.. definitely the best one in downtown. The chicken and rice is stupidly delicious, and it's run by really nice guys. It gets insanely crowded after all of the clubs let out, though.

I'm curious as to know what's going in place of My Buddy's.. I actually live right next to it, above the ISP Cafe.. it'd be nice to have another eatery pop up there.. I love the variety of downtown.

raisethehammer · #**356** Posted **Apr 23, 2008, 5:19 PM**

get ready for a laugh...a NEW gyro/shawarma place called 'Buddies' is opening where My Buddy's was! lol.

smart move IMO.

I love the old signage that the 'Green Deli' on James South uncovered on their front facade. I wonder if they'll keep it?? seems to me they named the place after it.

chris k · #**357** Posted **Apr 23, 2008, 8:16 PM**

I actaully spoke to one of the guys at my buddies (paradise) because its near my school and said that it will open within a few weeks. I actaully think it will do good there but im glad to hear the one downtown will be replaced. Just as long as it does not become an empty storefront.

oldcoote · #**358** Posted **Apr 23, 2008, 8:35 PM**

Quote:

Originally Posted by DC83

Found a visual to help out :

http://www.downtownhamilton.org/HotProperties.asp

More info ... not Jehovah's...not really a "church", but a youth motivational group. I believe they're trying to sell this property on Ferguson...

Here's the website:

http://absolute.org/

This is not confirmed, but rumoured.

the dude · #**359** Posted **Apr 24, 2008, 6:59 AM**

i think that must have been some sort of biker club at some point. used to walk past there all the time - i think it's near 'speakeasy.'

i'm not sure what sort of business would work well there. the property doesn't get much exposure.

raisethehammer · #**360** Posted **Apr 24, 2008, 1:15 PM**

let's hope they don't maintain the king william property to the same lowball standard as that ferguson one.
i still hope an eatery locates at 41 King William.