Pasadena apartments, nearly destroyed by fire, becoming boutique condos
The building's 32 new condominiums will be on the market early next year
http://www.cbc.ca/news/canada/hamilt...ndos-1.3679557
One of Hamilton's oldest apartment buildings, which was nearly destroyed by fire more than two years ago, is about to become boutique condominiums.
The Pasadena apartments at 27 Bold St. in Durand will soon be 32 new condos, says local entrepreneur Paven Bratch, who bought the building in December.
Bratch is spending about $7 million to fix up the building, which was nearly destroyed by fire in February 2014.
The restoration required a lot of work, he said, including replacing the roof entirely.
His crews also restored the floors and the spiral staircases, as well as the historic brick. It's a heritage building, which has meant working with the city to maintain its heritage characteristics.
Bratch said for months, he parked near the building to walk to Radius, the restaurant he owns on James Street South.
Eventually, he inquired about buying it. After months of work, he hopes to have the building ready for the market by early 2017.
"It's on its way," he said. "It's been a long journey." But "I love restoring old buildings."
It's a high profile project in the neighbourhood. The heritage building was in its 100th year when it went up in flames on Feb. 20, 2014. The spectacular fire destroyed 17 apartments and left 28 people homeless.
CLV Group owned the building, and planned to restore it. Bratch expressed interest in buying it last year.
Jason Farr, Ward 2 councillor, is happy to see the project moving forward.
"It's been a harrowing two and a half years or so, but we're in a very good place," he said.
CLV Group "sold to the right person. The end result is this wonderfully restored Durand landmark."
The project being condos instead of rental units is "not ideal in this market," said Frances Murray, president of the Durand Neighbourhood Association. Local advocates say Hamilton has a low rental vacancy rate, and a lack of affordable housing.
But Murray said she's happy to see the building restored.
"We're happy somebody came along and decided to rebuild it instead of tearing it down."