Television city condos | 109 m | 32 & 32 fl | Under Construction

[durandy]

It will be interesting to see how the market reacts. The market has corrected for four months now, but condos not so much. People are trying to get into the market prior to the new mortgage rules. If they don't get a bump from that, they may be in a bit of trouble here as the housing signs are pretty grim.

[LRTfan]

Originally Posted by durandy

It will be interesting to see how the market reacts. The market has corrected for four months now, but condos not so much. People are trying to get into the market prior to the new mortgage rules. If they don't get a bump from that, they may be in a bit of trouble here as the housing signs are pretty grim.

One thing condos have going for them is an average price in Hamilton of $318,000. Compared to $580,000 for single homes.
I'm a broken record here, I realize, but we need more condos. Lots more.

[hamilton23]

Originally Posted by Berklon

^ It's ok when it's true.

Lol in terms of just shear $ development value (which is what the press release suggests when it says,"largest development in Hamilton History"), the RC costs more and is more expansive.

Not to mention that the actual building is more iconic.

I do like this project though. Has potential for sure.

[hamilton23]

Originally Posted by Chronamut

**hears thunder from the RC heavens**

**runs and hides**

Not quite! I actually like this development. Hope it gets approved. The more condos in Hamilton the better. That's always been my attitude on this board and in reality lol.

[hamilton23]

Originally Posted by LRTfan

One thing condos have going for them is an average price in Hamilton of $318,000. Compared to $580,000 for single homes.
I'm a broken record here, I realize, but we need more condos. Lots more.

We do need more condos. This is true. However, the new rules being enforced will mean a decrease in large scale development. Less incentive for the builder. This goes for every Condo development. Not just this one.

[hamilton23]

Originally Posted by durandy

It will be interesting to see how the market reacts. The market has corrected for four months now, but condos not so much. People are trying to get into the market prior to the new mortgage rules. If they don't get a bump from that, they may be in a bit of trouble here as the housing signs are pretty grim.

It depends on each individual situation.

If someone has great credit and 20% + downpayment, good work history, they'll be approved by an 'A' Lender or one of the big banks. They usually have the cheapest interest rates and are obviously the most legit.

The issue is, most people don't have that much of a % to put down. Therefore, they look for a mortgage from 'B' and 'C' lenders, with higher interest rates and sketchier terms. This can lead to someone sticking in the rental market for a long time.

The new mortgage rules are only going to make it more difficult for someone to purchase a property.

I do anticipate there being a massive hike in sales before they come into place though.

Will probably be good for all condo projects currently selling in the city, including this one.

We're in store for some crazy times in the real estate market. Buckle up.

[king10]

Originally Posted by LRTfan

Loving this project more and more.
I'll certainly be sending in my feedback re: tall buildings guidelines. This 30-storey talk is bizarre. Preserving the dumb-looking Century 21 tower as our tallest forever would be awful.
If one stands at Sam Lawrence Park, you can't see much water through the current downtown core. The harbour narrows to the NW and buildings 15-20 stories block the small view that exists. East of Wellington would make sense to not go higher than 30 as the harbour widens and is actually visible from the Brow.

Other cities hold international competitions to build their new tallest. Hamilton tries to stymie investment and growth....typical

Hamilton is literally waiving almost all Development Charges and has exemptions on Property Taxes for the first 5 years of the new development in the core. DC exemptions are also generous for commercial and industrial parks. To say they are trying to stymie investment and growth is a ridiculous statement.

[hamilton23]

Originally Posted by king10

Hamilton is literally waiving almost all Development Charges and has exemptions on Property Taxes for the first 5 years of the new development in the core. DC exemptions are also generous for commercial and industrial parks. To say they are trying to stymie investment and growth is a ridiculous statement.

Yeah, I agree with this statement here.

[LRTfan]

Creating some incentives for development is fantastic and should be praised.
But that doesn't mean we give city hall a free pass on adding yet more red tape when we already have a ton of red tape.
I'm friends with several developers and architects and all of them would agree with the above initiatives to encourage development being a good thing, but all of them have a laundry list of unbelievable red tape and obstacles that get thrown at them every single day when trying to develop in this city.

As one smartly pointed out to me recently: Hamilton used to be one of the biggest cities in the country, and is perhaps on it's way to becoming one again. City Hall needs to start thinking like a big city, and not some little town trying to preserve fake charm by coming up with things like a 30-storey height limit for no reason, or charging a developer money to replace a couple parking metres etc....

I could go on with their stories and frustrations with city hall, but we've all heard it for our entire lives. If we want more people to move here, and be able to afford to move here we need to allow tall developments that can spread the cost of development over more units and thereby offer more entry level units. Big cities understand this.

I'm happy to praise city hall for their efforts to lure development. But I would feel irresponsible to not call them out on their constant roadblocks and obstacles to development that still exist too.

[atnor]

Guaranteed there are more red tape in other cities in the GTA. For one, Hamilton does not require permits for hoisting over the right-of-way, piling, tiebacks, or shoring.

Toronto charges something like $40 a day to have a crane in the air. We charge $0. Mind you, I feel Hamilton should adopt similar permits as Toronto in order to speed up the builds.

[Innsertnamehere]

Sales for this apparently launched today. Wonder how its doing.

[thistleclub]

Originally Posted by LRTfan

As one smartly pointed out to me recently: Hamilton used to be one of the biggest cities in the country, and is perhaps on it's way to becoming one again.

If not for amalgamation, Hamilton would be trailing Markham. As it stands, it could be bumped from its berth in the Top 10 by Quebec City. City Hall needs to get introspective.

[Chronamut]

Originally Posted by thistleclub

If not for amalgamation, Hamilton would be trailing Markham. As it stands, it could be bumped from its berth in the Top 10 by Quebec City. City Hall needs to get introspective.

In hamiltons defense a lot of hamilton is taken up by the area up on the escarpment, which isn't really seen as part of the city, but more the suburban sprawl, thus without amalgamation they wouldn't have been able to expand that under the escarpment footprint.

Whereas places like toronto have more available land under the escarpment, and thus can become larger.

[ihateittoo]

Originally Posted by thistleclub

If not for amalgamation, Hamilton would be trailing Markham. As it stands, it could be bumped from its berth in the Top 10 by Quebec City. City Hall needs to get introspective.

I always find the history of canadian censuses and Hamilton's stature among them quite interesting:

https://en.wikipedia.org/wiki/List_o...ties_by_census

It definitely confirms why we have such a good housing stock, but its crazy to think that in 1961 Hamilton was still the fifth biggest city in Canada.

I don't think Hamilton has much to worry about in terms of future population growth prospects, but i am sure southern ontario is going to get quite competitive for new comers/jobs.

[King&James]

3 to 4 decades of industrial decline for certain have played a role in the slowing growth of Greater Hamilton. I am sure if you looked at the largest 20 companies employing in the City in 1961, probably 15 don't exist today, while the remaining 5 are shadows of themselves. We have turned the corner, and with the help of big brother to the east, and it's astronomical housing prices, it won't be long until Québec City and Winnipeg are in the rear view mirror as far as CMA pop standings are concerned.

[Beedok]

Originally Posted by ihateittoo

I always find the history of canadian censuses and Hamilton's stature among them quite interesting:

https://en.wikipedia.org/wiki/List_o...ties_by_census

It definitely confirms why we have such a good housing stock, but its crazy to think that in 1961 Hamilton was still the fifth biggest city in Canada.

I don't think Hamilton has much to worry about in terms of future population growth prospects, but i am sure southern ontario is going to get quite competitive for new comers/jobs.

If you compare Hamilton to Toronto the population ratio hasn't actually shifted too much, it's more that Calgary, Vancouver, and Edmonton just all grew a lot, which isn't really Hamilton's fault for falling behind them.

[SteelTown]

Based on Joey Coleman's tweet we have a new tallest proposed building.

https://twitter.com/JoeyColeman/stat...18093051981825

We now have a height on the proposed Television City 131.5m - taller than Landmark Place (Century 21), tallest in #HamOnt

[urban_planner]

Originally Posted by SteelTown

Based on Joey Coleman's tweet we have a new tallest proposed building.

https://twitter.com/JoeyColeman/stat...18093051981825

We now have a height on the proposed Television City 131.5m - taller than Landmark Place (Century 21), tallest in #HamOnt

Who shrunk the escarpment?


.....nevermind. it just look weird because of the angle.

[ScreamingViking]

Wow, what a change all that will make. It's about time. Doesn't include William Thomas either... and imagine that image with the 40-storey proposal on Rebecca and the Tivoli condo (if that's still a going concern).

And that profile doesn't account for topography -- Television City will appear to be quite a lot taller than Landmark Place (and 20/22 George will stand out somewhat more as well, though not to the same degree).

That building peeking from behind 100 King W/Stelco Tower must be Platinum Condos?

[drpgq]

I'm fine with that height. Close to the LRT line.