Quote:
Originally Posted by flar
I don't really get the humour. It's not like this is the first condo in Hamilton. And it's not like Stinson has never built a condo project before. Actually the vitriol directed at Stinson is a bit disturbing. I like people who take risks. The world would be pretty boring without people who dream big. They shouldn't be ridiculed.
Anyway, I see no reason why this project shouldn't happen. The Connaught Hotel is a great building and was a functioning hotel just a few years ago. Seems like the perfect building for a condo conversion. A 24hr grocery store is in demand for downtown's growing population. An upscale 5 level restaurant with rooftop patio is nearing completion on the same block, the Lincoln Alexander Conference Centre and Plaza Hotel are under renovations across the street. A condo tower has always been phase II of the plan. Obviously "the Sapphire" won't be plunked down in this spot unmodified but it's a great location for a nice building.
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He's made a lot of enemies, no doubt.
Harry's an odd guy. Atypical from the 'real estate/developer' mold, and I think his no bullshit demeaner puts people off.
His biggest fault may be his obsessive compulsiveness. He's too hands-on, and needs to let the qualified people he employs carry more responsibility.
My concern is the pricetag. For $9.5 million, he's going to require a decent sized tower to have a decent ROI. Is there going to be a market for million dollar condo's in downtown Hamilton?
Yes, the restoration of the Connaught will be great, but will it be enough to satisfy the investors?