Platinum Condominiums | 81.3m | 24 fl | Complete - Page 11

hamilton23 · #**201** Posted **Oct 20, 2018, 7:36 PM**

Quote:

Originally Posted by LRTfan

I agree some development is going to happen regardless, but the vast majority won't come here without LRT and a major change to our urban expressways.

That's not exactly true. As someone who has been working in real estate development for over a decade, I can tell you that the vast majority of development will still continue with or without LRT. We can agree to disagree.

Real Estate Developers will continue to build in Hamilton because they see the potential for growth, they see the growth that's been happening for the last several years, land prices/building prices are a lot cheaper compared to the surrounding areas which also makes Hamilton more attractive for developers.

The main thing, however, is the lack of condos and the demand for them in Hamilton. Developers know this and that's a financial opportunity that they won't pass up.

Infrastructure is key and I agree that LRT will drive business further. I understand your point and I agree with you. However, if a Developer is making LRT their number one priority on whether they build in Hamilton or not, isn't a super logical rationale.

There are so many other existing factors why a developer wouldn't want to build in Hamilton (i.e. poverty, median income, height restrictions, etc) Those are legitimate concerns a developer will have prior to planning a project here.

Again, this is not me trying to debate you or tell you that you're 100% incorrect. I just want to make that clear. However, I speak with the developers and planners in our city and in the GTHA on a frequent basis and LRT not happening won't be the only or main reason some of the mentioned developers scrap certain projects. The reason will be the same factors that have kept developers out of Hamilton for so long.

Hamilton still has a stigma by some out of town developers. It has changed drastically, but it's still there and will be there for a while. LRT would help, but it's not the only factor. Our city is improving all the time and so is the stigma surrounding it.

hamilton23 · #**202** Posted **Oct 20, 2018, 7:42 PM**

Quote:

Originally Posted by Innsertnamehere

yup - Hamilton is ready to clean up and become a much more attractive place to live - but high quality retail is never going to set up on King Street as it is today as a large highway.

The LRT also increases accessibility to things like McMaster - which will push the investor condo market as they can easily lease the units out to students.

It's not like the condo market is going to disappear entirely without LRT - but as you can see in Waterloo, the LRT will help the market just absolutely take off as it vastly increases the ease of urban car-lite living, even if it isn't car-less. And half the point of buying a condo instead of a house is to get that lifestyle.

Hamilton is unique in the GTA because it is affordable and has the bones of a truly urban place - but right now it's infrastructure doesn't reflect that. It's a very car dependent place - but it doesn't have to be. LRT will push the city in a way that will allow the city to capitalize on what makes it unique in the GTA - an urban setting. Right now the city is trying to be suburban but doesn't have the bones for it. So it ends up failing at both. If it can focus on being a real city - it'll become a lot more attractive of a location to live and work.

Well said and you're right. As I mentioned earlier, I'm pro LRT and I believe it will drive business forward and it's a massive step forward for infrastructure in the city.

However, it's not the primary reason why a developer is building in Hamilton and it won't be a factor for the majority of developers that back out if we get official word that LRT is a no go. Height restrictions is what's annoying most developers presently.

LRT is a nice selling feature, not only for real estate purchasers, but also for the city as a whole. We have much more to offer than just a new LRT system though and most developers know that and are sticking with their projects with or without LRT moving forward.

King&James · #**203** Posted **Nov 29, 2018, 2:38 AM**

Backhoe tractor on site, any movement?

LRTfan · #**204** Posted **Nov 29, 2018, 3:57 AM**

not yet

King&James · #**205** Posted **Nov 29, 2018, 4:48 PM**

Thanks, that is a pretty non productive use of infrastructure equipment sitting idle.

johnnyhamont · #**206** Posted **Apr 9, 2019, 3:18 AM**

Has there been any news on how sales for this condo project is going? Are they not yet near the threshold needed to move forward or are they there but not moving forward for some reason?

TheRitsman · #**207** Posted **Apr 9, 2019, 4:03 AM**

Quote:

Originally Posted by johnnyhamont

Has there been any news on how sales for this condo project is going? Are they not yet near the threshold needed to move forward or are they there but not moving forward for some reason?

Last I heard they sold out.

SantaClo · #**208** Posted **Apr 9, 2019, 2:07 PM**

Any ideas when they could start construction?

TheRitsman · #**209** Posted **Apr 9, 2019, 5:26 PM**

Quote:

Originally Posted by SantaClo

Any ideas when they could start construction?

I'd like to know too, I had suspected spring because they were waiting for snow and freezing temps to stop. But maybe now they're waiting for Queen Street final designs and LRT? That corner is set to change a lot with both of those.

hamilton23 · #**210** Posted **Apr 24, 2019, 3:52 PM**

Quote:

Originally Posted by TheRitsman

Last I heard they sold out.

Not the case. The big rumor is, they were waiting to hear about the LRT and if it was indeed moving forward or not. With the LRT slated to be back on track, I'm assuming the reason for the delay is because of sales and actual construction infrastructure.

King&James · #**211** Posted **Apr 26, 2019, 8:44 PM**

It's bit puzzling.... Their website states that all available suites sold out, but there are future phases available... anyone know Colterra? Why not start digging?

http://platinumhamilton.com/register/

lachlanholmes · #**212** Posted **Apr 26, 2019, 8:50 PM**

Quote:

Originally Posted by King&James

It's bit puzzling.... Their website states that all available suites sold out, but there are future phases available... anyone know Colterra? Why not start digging?

http://platinumhamilton.com/register/

Future 'phases' in this case would mean they haven't offered, and thus haven't sold, the whole building. I don't know what's holding them back from offering the next suites but it's entirely possible and likely they're just waiting for an uptick in the market.

hamilton23 · #**213** Posted **Apr 26, 2019, 8:54 PM**

Quote:

Originally Posted by HamiltonForward

Future 'phases' in this case would mean they haven't offered, and thus haven't sold, the whole building. I don't know what's holding them back from offering the next suites but it's entirely possible and likely they're just waiting for an uptick in the market.

I alluded to this in an earlier post this week... If you search the developer, you won't find a ton of stunning feedback. Based on stuff I've read and heard, out and about, they were telling people and still tell people that they are "sold out", when in actuality they aren't. I've also heard rumblings that they may have been awaiting a decision on LRT (which now appears to be back on track....no pun intended) Either way, I don't know what their game plan is. There is 0 movement and there hasn't been for a very long time.... If they were sold out like they said they were months back, you would've figured that they would start construction by now?

It wouldn't fully surprise me if they don't end up moving forward with this. That's just my opinion, but I have my suspicions.

timach · #**214** Posted **Apr 29, 2019, 1:42 AM**

Their site says penthouses available 2021. Does that mean for sale 2021, or they're going to be ready in 2021?

thistleclub · #**215** Posted **Apr 29, 2019, 3:25 AM**

...

hamilton23 · #**216** Posted **Apr 29, 2019, 1:03 PM**

Quote:

Originally Posted by timach

Their site says penthouses available 2021. Does that mean for sale 2021, or they're going to be ready in 2021?

I would be shocked if they were ready by 2021. Usually, those purchasing Penthouses want to choose every finish of their Penthouse and in most cases, the purchaser is usually the person(s) who end up living in the Penthouse they purchase. To see that the Penthouses will be available 2021, leads me to believe that they will release their Penthouse suites for sale at that time and allow those purchasers to customize and choose their finishes at that time.

Add that to the fact that they haven't even started site servicing on the development site as of the end of April 2019. It will be a long shot for everything, including the Penthouses to be completed by 2021, unless they start construction within the next couple of months, which by all accounts doesn't look that way.

hamilton23 · #**217** Posted **Apr 29, 2019, 1:09 PM**

Quote:

Originally Posted by thistleclub

...

The word on the street was that the developer was waiting for a concrete answer on the LRT. Makes sense. A lot of developments and developers waited until they had more concrete news on the LRT moving forward. I'm sure there are several other factors including, sales, infrastructure, etc. Although the sales team and website have mentioned that they have been "sold out", they've also alluded to only a portion of the building being sold out lol. We don't know for sure if they've hit their intended target in sales. We'll have to wait a little longer it appears.

realcity · #**218** Posted **Apr 29, 2019, 2:59 PM**

all these developers can't keep blaming LRT, it's been going on for 10 years now and will be decades more... and maybe never A Line.

thistleclub · #**219** Posted **Apr 29, 2019, 3:10 PM**

Maybe Coletera's Platinum has been afflicted with the same syndrome as Coletera's Onyx development directly behind their Main West sales centre. (That's apparently been ongoing for a dozen years or so in one form or another.)

hamilton23 · #**220** Posted **Apr 29, 2019, 5:29 PM**

Quote:

Originally Posted by thistleclub

Maybe Coletera's Platinum has been afflicted with the same syndrome as Coletera's Onyx development directly behind their Main West sales centre. (That's apparently been ongoing for a dozen years or so in one form or another.)

I did a google search of Coletara and a lot of people voiced issues with some of their developments or developments that never came to light.

The lack of any progress on their site tells me a lot...