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  #1  
Old Posted Jan 25, 2013, 12:50 PM
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King/Sanford St | ? | 8 fl | Proposed

Another possible proposal for a very sorely under-invested area of the core:

http://www.cbc.ca/hamilton/news/stor...g-sanford.html
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  #2  
Old Posted Jan 25, 2013, 1:08 PM
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King/Sanford St | ? | 8 fl | Proposed

White Star proposes eight-storey building for King and Sanford

By Denise Davy, Special to CBC News
http://www.cbc.ca/hamilton/news/stor...g-sanford.html

Owners of a block of land on the corner of King and Sanford streets that’s listed for $2.5 million say they’re hoping to cash in the growing number of people who want to live near the Hamilton core.

The property, bordered by King, Sanford and Arthur streets, is just over one acre. It consists of the old Rocque restaurant and Superior Signs building, both of which have closed, plus a vacant lot.

Marino Rakovac is founder of White Star Group, which has owned the property since 1978. He said the company originally listed the land as three separate properties, but two weeks ago decided to sell the whole block as one package.

They have a plan for the site that includes the construction of a 120-unit, eight-storey building. Rakovac said if no developer is secured, the company will consider either building it themselves or going in on a joint venture.

The King and Sanford property is currently zoned commercial /residential but only allows one-storey buildings. Rakovac said that the official plan allows for buildings up to eight-storeys and that city staff have “responded favourably” during preliminary consultations.

Everything currently on the site would be demolished, including eight apartments above the stores that were built about 20 years ago.

Rakovac said more people are moving to Hamilton, but there aren’t a lot of affordable rental options.

Listing broker Angie Ammendolia, with Chase Realty, said only two rental buildings have been built in Hamilton since 1975.

“The population is growing and people are moving here because it’s more affordable, but you’ve got a limited stock of rentals,” said Ammendolia.

“We felt the market was right. There’s limited inventory along King Street and very few rentals,” said Rakovac.

The upcoming expansion of GO train service, plus the fact the land is on the LRT route, means the location would be perfect for commuters, Rakovac added.

“A key factor for us is the GO station, because it will push up the demand. You hear of people wanting to move here from Toronto but they don’t want to fight the traffic. When the GO station goes in, it will change all that,” said Rakovac.

“It’s near the core and it’s going to mean more people living in the core area and it will help promote and intensify an infrastructure that’s already there,” said Rakovac.

White Star Group is behind the West Harbour Villa at Tiffany Square, a high-end condominium redevelopment on Bay and Stuart streets.

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  #3  
Old Posted Jan 25, 2013, 3:58 PM
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Looks good. Way better than the used car sales lot and the ugly buildings that are there now.
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  #4  
Old Posted Jan 25, 2013, 4:03 PM
movingtohamilton movingtohamilton is offline
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Interesting that the developer is anticipating an influx of people from Toronto when GO train service becomes all-day. He emphasizes it in his comments.
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  #5  
Old Posted Jan 25, 2013, 4:12 PM
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Even more interesting that LRT is also referenced, even with the city flip-flopping on it lately.
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  #6  
Old Posted Jan 25, 2013, 5:53 PM
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This should encourage the 'rent by the hr' motel across the street to get out of there thank god.
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  #7  
Old Posted Jan 26, 2013, 3:37 PM
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CBC Hamilton just can't stop pimping for the real estate sector. Here's the listing, such as it is.
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  #8  
Old Posted Jan 26, 2013, 6:45 PM
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  #9  
Old Posted Jan 26, 2013, 8:25 PM
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Is that the best they could do? It looks like it came out of "The Projects" Architecture Monthly... But hey, Ward 3 will take what it can get right..no need for aesthetics.

Shit, and they are tearing down a beautiful heritage building (Sanford AVe School) that had people on board to put in live/work lofts and we end up this this piece of crap.

Don't know why they are on the whole GO/LRT wagon in the article..who is going to come all the way here to 'rent' and then commute all the way to TO for work.Plus, it's nowhere near the proposed GO.
Who are they kidding?

It's going to end up the same as the Sanford Arms up the street.. just what we need more of in Ward 3! Nice to see the vision. I think it's time to move out of Ward 3, it will always only be the ghetto it is now..thanks Bernie.
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  #10  
Old Posted Jan 26, 2013, 8:25 PM
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uhh is that not 10 floors?
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  #11  
Old Posted Jan 26, 2013, 10:00 PM
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The CBC Hamilton story is pure conjecture based on a property listing, with input from the owner and the agent. It's essentially an advertorial.

What the article capably depicts is someone who has sat on a sad-sack property for 35 years, which seems to fit the profile of a property speculator. Here is a property whose owner is looking to sell, though he would also be willing to build something that he has no clear way of financing at this point.

This is in addition to trying to develop a west harbour property for the last 16 years (a project animated by similar computer modelling and some dubious post-production).

Articles have referred to Mr. Rakovac as a "developer" but I've never been entirely clear on what he has actually produced aside from renderings.
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Last edited by thistleclub; Jan 26, 2013 at 10:21 PM.
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Old Posted Jan 27, 2013, 2:54 AM
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the west harbour or bust movement was based in part on whitestar's plans to build a venetian plate over the rail lines. Certain overeager urbanists seemed happy to tout his bona fides then too.
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  #13  
Old Posted Jan 27, 2013, 7:17 AM
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My personal single encounter with Mr. Rakovac...

I am all for seeing this project happen, particularely in this area in need of improvement. I feel inclined however to write about a personal single encounter I had of this 'developer', when I moved to Hamilton almost five years ago. I was twenty-five, just bought my first house on Pearl Street and had dispite a home inspection, a leaking basement foundation. I called around, the cheapest quote I got for repair was in the ball-park of $15,000+ bucks. I had negative money and desperate (just finished basement), I bought a $30.00 shovel and pick and winced at its cost. After spending close to two months, after work, every evening, digging up my foundation, it was getting cold outside and the ground started to freeze. My neighbour was making no secret of wanting to castrate me for digging up part of her driveway and taking so long, but again I had no options. Under christmas flood lights (not kidding) I had set up to illuminate what I was doing, I found myself desperate again for a quick solution.

While driving past this Sanford and King St property of Rakovac's, I saw an orange Bobcat mini-shovel plowing his parking lots. I pulled in and offered his hired hand some money to back-fill what little was left to do. He asked his boss Mr. Rakovac, if that was ok. We then drove down the street to my house with Rakovac in a truck and trailer to collect the extra dirt to use in his own project he said at the time he required anyways. Once arriving at my house and loading up his trailer, I thanked him perfusely. Here's the catch; after paying him once, buying him and his colleague coffee and after loading his trailer, Rakovic offered to remove the trailer only at an additional cost!! Not wanting him to dump it back again and with no option, as he was well aware, I paid him again a second time!

Please don't get too excited about 'touting his bona fides', he seems like a deceptive little shizer to me.
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Last edited by Pearlstreet; Jan 27, 2013 at 5:10 PM.
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  #14  
Old Posted Mar 24, 2013, 11:08 PM
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FOR SALE: City block on King St. E., $2.5M
Downtown site pitched for new highrise apartment

http://www.thespec.com/news/local/ar...king-st-e-2-5m

An entire city block for sale on King Street East is being pitched as an ideal site for one of the city’s first new rental apartment buildings in decades.

New highrises aimed at market-rate renters are rare in Hamilton – but it’s no longer a pie-in-the-sky notion, say local developers, landlords and city officials.

Marino Rakovac’s White Star Group is selling three properties bounded by King, Arthur Street and Sanford Street as a $2.5-million package. The listing includes conceptual drawings of a 120-unit, 11-storey apartment highrise with a commercial base.

Rakovac said he wants to “test the waters” with potential buyers, but hasn’t ruled out building or partnering on such a project himself.

“We think demand (for higher-end rental units) is really perking up,” said Rakovac, whose group is also working on an eight-storey west harbour condo proposal. “In conjunction with the city’s intent to bring in light rail and encourage intensification along the corridor, I think this sort of project looks increasingly attractive.”

He’s not alone. Most sky-climbing residential buildings in the last several years have been either affordable-housing projects or condos, said city urban renewal manager Glen Norton.

But Norton said an unnamed local developer is expected to make a pitch for city incentive cash next month for a downtown rental apartment building. He called the idea of an apartment tower at the King Street East location “interesting, and not impossible,” adding there is a shortage of core lots available to handle large-scale developments.

“We’re seeing more interest in that type of project from investors,” he said.

Part of the reason is the city’s low apartment vacancy rate, which is now below 3.5 per cent, combined with a steady influx of would-be downtowners moving from Toronto and other urban areas, he said.

Hamilton is also garnering national recognition as an attractive place to invest at the same time a GTA construction boom is “squeezing builders out” of Toronto.

Hamilton’s core can expect “more and more” interest from residential developers, said Joe Mancinelli of the Laborers’ International Union of North America. In the right location, a new apartment tower could be a “home run,” said Mancinelli, whose group is in the design phase for a new residential tower behind the revamped Lister Block.

The King Street East block now up for sale includes the former Rocque restaurant, a vacant car lot and the old Superior Signs building. The three-quarter-acre lot would require underground parking and zoning changes to allow for a highrise, said broker Augie Ammendolia.

But Ammendolia, who is also a board member of the Hamilton and District Apartment Association, lauded the property’s proximity to the core and a planned LRT node. “I think the demographics in Hamilton are changing to the point where the economies of scale will work for a project like this again,” he said.

Not sold on the idea of buying a city block? Other unique properties up for grabs at the moment include:

• The famed Corktown Pub, one of the country’s oldest Irish pubs, is on the market for $795,000. The landmark tavern and music venue at the corner of Ferguson Avenue and Young Street opened as a pub in 1931.

• The unofficial castle of Durand, 26 Ravenscliffe Ave., and its chimneys, towers, turrets and 11 bedrooms, are up for grabs for about $1.9 million. Built by Sir John Gibson in 1881, the estate first hit the market in 2010 for closer to $3 million.

• McMaster University gets first dibs if the city goes through with the proposed sale of the old courthouse at 50 Main St. E. The city hopes to recoup at least $5 million.
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  #15  
Old Posted Sep 7, 2019, 2:20 PM
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Darko Vranich has highrise plans for the old Bellissimo Motors at King and Sanford
TEVIAH MORO
With three projects already underway, Vrancor is now planning a building to take advantage of the LRT.
If you've ever passed the former car dealership at King Street East and Sanford Avenue South and wondered what was up, wonder no more.

Hamilton's biggest developer of apartment buildings has added the parcel to its holdings and plans to build there — eventually.

"Absolutely, it will be developed into residential, but it's kind of in the initial stages," Chris Mlinaric, chief financial officer, said this week.

Vrancor, which is Darko Vranich's firm, is focused on finishing highrise buildings downtown and just west of the core first.

But King, a little east of downtown, is attractive with the prospect of an LRT line running on the main drag, Mlinaric said.

"It's an area that's obviously ripe for development and we can definitely put our spin on it."

Metrolinx, the province's transportation agency, has been buying properties in the area in preparation for the eventual $1-billion LRT line that is to run from McMaster to Eastgate Square.

Elsewhere in Hamilton, Vrancor's residential development activity has been gangbusters recently.

A highrise on Main Street East and Walnut Street, and hotel and residential building at Queen and King West are in the works, along with a skyscraping apartment block on George Street.

Mlinaric said the city's low rental vacancy rate is creating demand.

"That's why we have three residential buildings in development as we speak right now in Hamilton."

In October 2018, the Hamilton census metropolitan area's rental vacancy rate was 3.1 per cent. That was up from 2.4 per cent the year before.

Apartment projects accounted for 30 per cent of all residential building permits for new construction from 2016-2018, a recent city report noted.

Permits for apartments have increased year over year, as well, with 336 in 2016, 766 in 2017 and 960 last year. There were 94 permits issued for apartment conversions in 2016, 211 in 2017 and 160 in 2018.

The King and Sanford property, which Vrancor bought in May 2018, is the former site of Bellissimo Motors. It also includes vacant commercial space next door, where a gym and sign shop once operated.

In 2013, White Star Group touted the parcel as the perfect location for one of the city's first new large-scale rental buildings in many years.

A listing featured conceptual drawings of a 120-unit, 11-storey highrise with commercial units on the ground. But the hype fizzled and nothing materialized.

Mlinaric said it's too early to attach a firm date to when work on the King-Sanford site might begin.
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  #16  
Old Posted Sep 7, 2019, 8:00 PM
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At this point I'm convinced that Vanrich doesn't sleep
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