98 James St S | 112.5 m | 34 fl | Planning - Page 15

Dr Awesomesauce · #**281** Posted **Apr 10, 2017, 11:50 PM**

I'm pretty passionate about heritage preservation (probably don't need to make that clear).

If this deal goes south, I feel strongly that these parties should be charged (won't happen because there aren't any laws in place etc. etc.). But to demolish a building that old without some guarantee of redevelopment is criminal. And the City just looks incompetent, frankly - nothing new there.

The City needs to grow some b@ll$. If developers want to play that game then send them down the highway somewhere else. A legitimate developer will work around local preservation laws. Fly-by-night operations like this one will move on because they don't have the money or the expertise.

king10 · #**282** Posted **Apr 11, 2017, 1:16 PM**

if its been 75% sold for so long construction would have started and financing would have been in place a long time ago. I wouldn't invest my money in this place

#**283** Posted **Apr 11, 2017, 1:24 PM**

Content removed

movingtohamilton · #**284** Posted **Apr 11, 2017, 1:35 PM**

Quote:

Originally Posted by CaptainKirk

http://www.thespec.com/news-story/7235266-the-connolly-condo-development-still-in-business/

The Connolly project is not "fine". The developer is an amateur at best. Please read this CBC article.

http://www.cbc.ca/news/canada/toronto/mo...-homes-after-development-fails-1.4056699

movingtohamilton · #**285** Posted **Apr 11, 2017, 1:38 PM**

Quote:

Originally Posted by thomax

Construction was suppose to start last November, but the substructure needed a complete redesign when they found an old stream running under the site...

This is the least of his problems.

davidcappi · #**286** Posted **Apr 11, 2017, 2:05 PM**

Just heard about this on CBC radio. It sounds awful! The buyers at On The Go will have to either accept their deposits back or buy their units from whoever buys the site, at current market value

That would be devastating.

markbarbera · #**287** Posted **Apr 11, 2017, 4:40 PM**

Quote:

Originally Posted by davidcappi

Just heard about this on CBC radio. It sounds awful! The buyers at On The Go will have to either accept their deposits back or buy their units from whoever buys the site, at current market value

That would be devastating.

A similar fate is in store for those poor people who are part of the "70% sold" club for The Connolly. This is particularly disturbing, given the condition that the former Saint James Church has been left in at their hands. Whoever ends up owning the property will probably end up knocking down what's left of the church.

Alarm bells went off for me a couple months ago when Santaguida was trying to peddle that lame story about the discovery of unexpected underground streams as a reason for the project's delay.

I am holding out hope that Harry Stinson might make a move for the property. Say what you may about the length of time he took to develop Stinson Lofts (and it is taking on developing Gibson Lofts), but at least with him there will eventually be a finished development. This Santaguida has turned out to be quite the shyster.

durandy · #**288** Posted **Apr 12, 2017, 2:41 AM**

it's incredible this could happen in this market. Prices go up 10% a year and they are going bankrupt. This guy buys a heritage building for a couple hundred grand, somehow gets permission to demolish most of it, and still can't build it.

King&James · #**289** Posted **Apr 12, 2017, 3:14 AM**

Quote:

Originally Posted by markbarbera

I am holding out hope that Harry Stinson might make a move for the property. Say what you may about the length of time he took to develop Stinson Lofts (and it is taking on developing Gibson Lofts), but at least with him there will eventually be a finished development. This Santaguida has turned out to be quite the shyster.

Vrancor would get my vote, no fanfare , just get it built and move onto the next one!

HillStreetBlues · #**290** Posted **Apr 12, 2017, 2:00 PM**

"No fanfare" doesn't sound appropriate to me.

This site is important. It's right between the heart of the city and the train station, and was one of the important churches of the city.

Something great should have been done here. The municipal bungled this by granting permission for such a building to be demolished without assurances it would be redeveloped in an appropriate way.

realcity · #**291** Posted **Apr 12, 2017, 9:30 PM**

Hamilton councillor maintains that Connolly condo project will move forward

Ward 2 city councillor Jason Farr is trying to ease concerns over the status of the Connolly condo project on James Street South.

Little has happened since part of the James Street Baptist Church was demolished three years ago to make way for a 30-storey tower that would be attached to the facade.

Delays aren’t the only fuel for concern at this point.

One of the proponents for the Connolly is tied to the On the Go Mimico development that recently went into receivership, leaving more than 200 people, potentially out of a condo and looking for a refund.

Coun. Farr says he’s being advised that construction will move forward.

“Other than the common element in Louie Santaguida, these are two completely different companies,” he said.

“There’s no liens, no mortgages on this property, related to, at all, the Mimico property.”

Farr says the city has not put forward any grants or loans at this point, that it would lose out on, if the project falls through.

He adds,”we have the money already in the bank to make sure we maintain what’s there.”

The Connolly is already 75 per cent sold, and Farr sees this as a sign that shovels will be in the ground soon.

An update on both the Connolly and Tivoli condo projects are expected at city council later this month. source:CHML

movingtohamilton · #**292** Posted **Apr 13, 2017, 2:01 AM**

Quote:

Originally Posted by realcity

Hamilton councillor maintains that Connolly condo project will move forward

Ward 2 city councillor Jason Farr is trying to ease concerns over the status of the Connolly condo project on James Street South.

Little has happened since part of the James Street Baptist Church was demolished three years ago to make way for a 30-storey tower that would be attached to the facade.

Delays aren’t the only fuel for concern at this point.

One of the proponents for the Connolly is tied to the On the Go Mimico development that recently went into receivership, leaving more than 200 people, potentially out of a condo and looking for a refund.

Coun. Farr says he’s being advised that construction will move forward.

Coun. Farr seems clueless. Or naive. This project is dead.

King&James · #**293** Posted **Apr 13, 2017, 3:28 AM**

So if project reall is 75% sold out, surely someone would have been asking for their deposit back. It has been at 70-75% sold for over a year, in the hottest real estate market I can recall. I suspect Deposits cant be held forever, and there are some options out there that are actually breaking ground .

Is St Jean Realty still actively selling units? Maybe if the developer has gone silent, they could give guidance .

Davis137 · #**294** Posted **Apr 13, 2017, 10:40 PM**

I thought that Hamilton now has one of the best real estate markets out there...

CaptainKirk · #**295** Posted **Apr 14, 2017, 5:07 AM**

Quote:

Originally Posted by King&James

Is St Jean Realty still actively selling units? Maybe if the developer has gone silent, they could give guidance .

Yes. 2 units sold this past week, one the week before.

realcity · #**296** Posted **Apr 14, 2017, 3:34 PM**

Quote:

Originally Posted by Davis137

I thought that Hamilton now has one of the best real estate markets out there...

Yes for suburban houses with three car garages

realcity · #**297** Posted **Apr 14, 2017, 3:38 PM**

I still think this will happen. It seems too much thought has gone into it for just being a speculation job.

movingtohamilton · #**298** Posted **Apr 14, 2017, 3:44 PM**

Quote:

Originally Posted by realcity

Yes for suburban houses with three car garages

Sorry to thread-drag but I don't entirely agree with you. Downtown house prices have increased significantly. Low supply, high demand.

Anecdote: Our "lower city" neighbourhood is very nice but nothing dramatic. A fairly modest house around the corner from us had a For Sale sign up on April 6, Open House April 9, Sold sign April 12.

Beedok · #**299** Posted **Apr 14, 2017, 4:47 PM**

Quote:

Originally Posted by Davis137

I thought that Hamilton now has one of the best real estate markets out there...

Ottawa's condo market is very healthy, but still sees proposals stall from mismanagement. One excavated, then let the whole sit there for 2 years filling with water before they finally started building again.

Berklon · #**300** Posted **Apr 14, 2017, 4:56 PM**

Quote:

Originally Posted by movingtohamilton

Sorry to thread-drag but I don't entirely agree with you. Downtown house prices have increased significantly. Low supply, high demand.

Anecdote: Our "lower city" neighbourhood is very nice but nothing dramatic. A fairly modest house around the corner from us had a For Sale sign up on April 6, Open House April 9, Sold sign April 12.

Yes, you're correct. It's definitely not isolated to the suburbs.
Home prices in all parts of Hamilton have been increasing significantly for years now.