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  #101  
Old Posted Sep 20, 2016, 1:57 AM
Zmonkey Zmonkey is offline
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Originally Posted by BaconPoutine View Post
They're selling units in an auction? I can't find details on this anywhere...
http://bryansfarm.com/stinson-hamilt...m-auction.html
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  #102  
Old Posted Sep 20, 2016, 2:03 AM
DDP DDP is offline
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What a joke Harry is.

It's been how many years for Stinson and he can't sell?
Is he still being sued by the Stinson condo board?
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  #103  
Old Posted Oct 8, 2016, 4:38 PM
fizzle fizzle is offline
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25% sold for dirt cheap prices. Nothing like a price increase to jolt the market into buying more.

I think Harry needs some lessons on how supply and demand work.

Just to note- usually you need 70-80% sold to begin building. Assuming you were one of the first 25% to put money into this thing, half a year has passed since his little RRSP scheme started, which depended on completion within 3 years.

Does anyone think this entire project will be done and ready to move in within 2 1/2 years?
I'm gonna quote myself because I want to.

Where is this project at now? When the RRSP scheme was set up, the project was supposed to have been ready to move in for mid-2017. So, will it be ready to go by June of next year? Have they even broken ground on it apart from cleaning up the brick?
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  #104  
Old Posted Oct 8, 2016, 4:41 PM
fizzle fizzle is offline
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Originally Posted by BaconPoutine View Post
I just appraised a unit in Stinson School. It was purchased in pre-construction with the deal closing in August of 2014. Since then it's gained 31% in value, so roughly 16% a year. Above average appreciation, but that doesn't account for any deposit money that was tied up for years prior to completion.

Granted, the owner told me that the unit took a year longer than promised to complete, but they praised Harry's commitment to preserving the heritage features of the building. Overall the owner was pleased with the purchase.

Given the surplus of Stinson units on the market it would be expected to take well above average exposure time to sell.
Honest question- how can you appraise it as having gained value when there remains unsold inventory from the time of the completion of the building? Those units have basically stayed at the same price for the last 2+ years.
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  #105  
Old Posted Oct 19, 2016, 5:20 PM
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Originally Posted by fizzle View Post
Honest question- how can you appraise it as having gained value when there remains unsold inventory from the time of the completion of the building? Those units have basically stayed at the same price for the last 2+ years.
A lot of the units sold initially were in the 140-200K range. Prices slowly raised after that.

What is left is the larger units that have odd bedroom layouts (1500 sq foot one bedroom, where the bedroom is open), split level (downsizers would be out), one parking spot (apparently this is a big issue for larger units).

Lots of the smaller units have been bought and sold and there are comps for those.
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  #106  
Old Posted Dec 30, 2016, 8:12 PM
Zmonkey Zmonkey is offline
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They finally have a model out for display, when will actual construction start? Anyone's guess.

http://stinsonproperties.com/project...chool-lofts-2/
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  #107  
Old Posted Dec 31, 2016, 12:04 AM
eatboots eatboots is offline
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I walked down Barton yesterday, there are numerous almost imperceptible changes, it's a new sign or new windows or construction happening in a storefront, but things are slowly moving forward(and that is without even taking The Heather into consideration)

Last edited by eatboots; Dec 31, 2016 at 3:56 AM.
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  #108  
Old Posted Jan 12, 2017, 11:59 PM
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johnnyhamont johnnyhamont is offline
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The banner advertising prices etc has come down
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  #109  
Old Posted Jan 13, 2017, 11:37 AM
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Dr Awesomesauce Dr Awesomesauce is offline
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Because they've sold out?
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  #110  
Old Posted Jan 23, 2017, 6:29 PM
DDP DDP is offline
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Originally Posted by Dr Awesomesauce View Post
Because they've sold out?
Obviously, and construction is well under way hence you can move in December 2017

http://gibsonschoollofts.ca
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  #111  
Old Posted Apr 28, 2017, 11:58 PM
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SteelTown SteelTown is offline
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That a Barton / Kenilworth Tax Increment Grant Program application submitted by Gibson Lofts Ltd. (Harry Stinson), for the property at 601 Barton Street East, Hamilton, for a Barton / Kenilworth Tax Increment Grant Program grant estimated at $2,306,083.06 over a maximum of a nine-year period, and based upon the incremental tax increase attributable to the redevelopment of 601 Barton Street East, Hamilton, be authorized and approved in accordance with the terms and conditions of the Barton / Kenilworth Tax Increment Grant Program

http://hamilton.siretechnologies.com...7075607754.PDF

The Barton / Kenilworth Tax Increment Grant Program (BKTIGP) application for the redevelopment of 601 Barton Street East, Hamilton, was submitted by Gibson Lofts Ltd. (Harry Stinson). The applicant proposes to convert the former Gibson School building into 97 condominium units, six live-work units, ten townhouses and commercial space.

Development costs are estimated at $15,000,000 and it is projected that the proposed redevelopment will increase the assessed value of the property from its current value of $1,635,000 to approximately $30,400,000.
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  #112  
Old Posted Apr 29, 2017, 12:29 PM
DDP DDP is offline
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Originally Posted by SteelTown View Post
That a Barton / Kenilworth Tax Increment Grant Program application submitted by Gibson Lofts Ltd. (Harry Stinson), for the property at 601 Barton Street East, Hamilton, for a Barton / Kenilworth Tax Increment Grant Program grant estimated at $2,306,083.06 over a maximum of a nine-year period, and based upon the incremental tax increase attributable to the redevelopment of 601 Barton Street East, Hamilton, be authorized and approved in accordance with the terms and conditions of the Barton / Kenilworth Tax Increment Grant Program

http://hamilton.siretechnologies.com...7075607754.PDF

The Barton / Kenilworth Tax Increment Grant Program (BKTIGP) application for the redevelopment of 601 Barton Street East, Hamilton, was submitted by Gibson Lofts Ltd. (Harry Stinson). The applicant proposes to convert the former Gibson School building into 97 condominium units, six live-work units, ten townhouses and commercial space.

Development costs are estimated at $15,000,000 and it is projected that the proposed redevelopment will increase the assessed value of the property from its current value of $1,635,000 to approximately $30,400,000.
This many years into the project and still just applying for things like this, and still a ways off from actual construction. This is the problem with Stinson, no end user should ever buy since you have no idea when you will actually get the place.
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  #113  
Old Posted Apr 29, 2017, 5:11 PM
atnor atnor is offline
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Having dealt with Stinson professionally, I have zero faith in any of his developments. Avoid.
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  #114  
Old Posted Apr 30, 2017, 4:26 AM
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matt602 matt602 is offline
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Originally Posted by atnor View Post
Having dealt with Stinson professionally, I have zero faith in any of his developments. Avoid.
Not the first time I've read that...
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  #115  
Old Posted May 4, 2017, 12:55 PM
Zmonkey Zmonkey is offline
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Originally Posted by matt602 View Post
Not the first time I've read that...
As someone who has lived in Stinson school.. Harry has vision but lacks a plan. And money. He has no money.

Edit:

Just looking at his website, it still says move into Gibson in December 2017. Construction has not even started yet. You won't be moving in here until 2018/2019.
Royal Caugnuahgt was sold after Gibson, and people will likely be moving in before construction even begins for Gibson. Harry would not even pay for a presentation center.

http://gibsonschoollofts.ca/

Last edited by Zmonkey; May 5, 2017 at 4:49 PM.
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  #116  
Old Posted May 16, 2017, 10:24 PM
Zmonkey Zmonkey is offline
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I would like to just point at the the Royal Cannaught had sales in June 2014 and people are moving in now. So just under 3 years.

Same time Harry has been selling these and construction has not begun.

Remember that if you are looking to buy pre construction from Stinson.
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  #117  
Old Posted May 23, 2017, 10:28 PM
fizzle fizzle is offline
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Originally Posted by Zmonkey View Post
I would like to just point at the the Royal Cannaught had sales in June 2014 and people are moving in now. So just under 3 years.

Same time Harry has been selling these and construction has not begun.

Remember that if you are looking to buy pre construction from Stinson.
And his RRSP scheme to fund the project depended on him getting this thing done and having people moved in by June 2017.

I posted in this thread last year pointing that out, and since that time no construction has started. Anyone who did the RRSP thing is going to be paid in a month based on what he proposed 3 years ago- and he won't have money again to construct. Or...he just won't pay them out, and it's gonna be a shitshow.

I guess it's a shitshow either way.
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  #118  
Old Posted May 23, 2017, 11:07 PM
atnor atnor is offline
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Stinson is a joke that should stop trying.
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  #119  
Old Posted May 24, 2017, 3:05 AM
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Pretty sure shitshow is exactly where thats heading. I'm gonna predict that he'll be a nobody in this city within the next 10 years. Hamilton has already outgrown him. Perhaps Niagara Falls NY or St. Catharines might be more suiting to him.
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"Above all, Hamilton must learn to think like a city, not a suburban hybrid where residents drive everywhere. What makes Hamilton interesting is the fact it's a city. The sprawl that surrounds it, which can be found all over North America, is running out of time."
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  #120  
Old Posted May 24, 2017, 4:55 PM
fuller fuller is offline
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Somewhere, SOMEBODY must have had a good experience with that guy. But I don't think I've heard that story yet.

Actually, it's rather hard to find any sort of commentary on him, which seems surprising considering his long pedigree.

By now I would have expected a couple good books on the subject, but there's nobody interested in writing it? I understand why current owners might hesitate but what about all those people who no longer have a connection to him or any of his various creations/eccentric visions.
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