Ferguson/Barton retail development.......
Environmental Remediation and Site Enhancement (ERASE) Redevelopment Grant Application was submitted by 1201159 Ontario Limited for Redevelopment of property at 201 Robert Street and 194-200 Barton Street East, Hamilton, ON (Appendix A to Report PED09040). The application qualifies for an ERASE Redevelopment Grant as a result of required environmental site remediation, demolition and on-site infrastructure upgrades in order
to permit construction of four commercial buildings, two of approximately 3,000 square feet fronting Barton Street East, one including vehicular drive thru, one commercial building of approximately 15,000 square feet and another of approximately 40,000 square feet in addition to a masonry and decorative aluminium screen-wall and landscaping features.
The Grant application is for $1,908,381.04 in eligible environmental site remediation, demolition and infrastructure upgrade costs. Estimated project construction costs are $6,500,000. It is estimated that the proposed development will increase the market value assessment (MVA) on the site from its current $699,000 to approximately $3,050,000. This will increase total annual property taxes generated by this property.
http://www.myhamilton.ca/NR/rdonlyre...03PED09040.pdf