This is geared more towards doctors with St Joe's and Henderson right next door.
The Mountain's million-dollar view
Sneak peek at luxury condos on the Brow
February 12, 2009
Lisa Grace Marr
The Hamilton Spectator
http://www.thespec.com/News/Business/article/512151
After the doors were flung open on the Madison in a swank unveiling last night, one thing was clear: the Mountain will never be the same.
That's exactly what Greg Fraleigh, president of Enfield Group Inc., had in mind when he built the 10-storey bank of 20 condos, 2,400 square feet with panoramic views of the city below. Prices range from $850,000 to $1.25 million.
Keltie Law, the Royal LePage agent selling the units, said three units have sold so far, with one reserved. According to the brochure, all of those are on the top three floors, with the biggest price tags.
Law is confident the condos will sell, recession or not. "Hamilton's never seen anything like it."
Sarah Fong agrees.
The Canada Mortgage and Housing Corporation senior market analyst said that while there are some similar developments in Burlington and Toronto, there is a market for luxury condos in the city.
"There will always be people not susceptible to these kinds of changes in the market. Hamilton does have a large population with a lot of baby boomers looking to downsize."
Fraleigh is sure of it.
"We've been frustrated because Hamiltonians who have worked here, raised their families and made friends have to leave the city and move to Oakville or Toronto to find a luxury condo."
His company manages about 60 condo developments in southern Ontario and from that, he knew what people want (storage and parking) and what they don't want (swimming pool) in a luxury condo.
The Madison delivers opulence without ostentation. There are closets as big as some offices, marble and hardwood floors that gleam, chandeliers that twinkle. Each unit comes with a double fridge with freezers, double ovens, laundry room, private elevator, library, fireplace, generous bathrooms and a 404-square-foot balcony from which to enjoy that view.
Fraleigh's roots are deep in Hamilton. His grandfather and father were both in the development business. He said his grandfather, William John Fraleigh, had a similarly transforming effect on the Mountain 57 years ago when he built a low-income apartment complex at 775 Concession St. nearby.
"The day the crane went up the Mountain, the skyline changed forever, just as it changed when my grandfather built those apartments," said Fraleigh. "I'm a Hamilton booster."
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