[IamNotaRobot]

The plot thickens... again...

and again

Development Opportunity Offers Pre-Approved High-Rise Potential in Downtown Hamilton | UrbanToronto

Developers and investors are being presented with an opportunity in Hamilton with a pre-approved high-rise project at 98 James Street South. Located in the heart of the city's growing downtown, it comes with significant advantages that streamline the development process.

urbantoronto.ca

 

[TheHonestMaple]

Guesses on when this one will simply collapse too?

 

[Sunnyside]

Guesses on when this one will simply collapse too?

Lol don’t say that…


But to fill the void here, I noticed they had a Zehr sign on the south hoarding/barrier. Were they the ones to acquire it last and sell it? If so, I would have thought they’d be interested in (and capable of) executing this- if it’s the same Zehr I’m thinking of in Waterloo.

Could there be something else ‘wrong’ with the site that’s keeping legit developers away? This thing has permits for Christ’ sake. Is it that those permits/permissions are priced in, and so there’s no ‘deal’ to be had here?

 

[TheHonestMaple]

Lol don’t say that…


But to fill the void here, I noticed they had a Zehr sign on the south hoarding/barrier. Were they the ones to acquire it last and sell it? If so, I would have thought they’d be interested in (and capable of) executing this- if it’s the same Zehr I’m thinking of in Waterloo.

Could there be something else ‘wrong’ with the site that’s keeping legit developers away? This thing has permits for Christ’ sake. Is it that those permits/permissions are priced in, and so there’s no ‘deal’ to be had here?

Probably the open drug scene next door....

 

[Sunnyside]

Probably the open drug scene next door....

Can’t help but point out thats not particularly unique to this site. The fundamentals that underpin this proposal from the early 2010s- earlier than almost any other tower in the city- should all still be present.

 

[Branden Simon]

Bankruptcy Sale of 98 James St S complete and has new owners

Ontario’s Superior Court approved the bankruptcy sale of the property to Vantage Acquisition Inc. under a new corporation, HAMILTON 98 GP INC., for $13,000,000.

Read more at the TPR website https://www.thepublicrecord.ca/2025...former-james-street-baptist-church-completed/

There are receivership case documents from KSV


https://www.ksvadvisory.com/experience/case/98jamessouth

 

[innsertnamehere]

Does Vantage actually have the capital to build it? We'll see..

 

[Stec]

At this point I'll be happy to see even just a convenience store open on this lot lol. Anything is better than the current mess that we been staring at for years now. Hopefully this is the last change of hands! Make it a purpose built rental.

 

[Chronamut]

Does Vantage actually have the capital to build it? We'll see..

Ever notice that anything that involves a church being repurposed or incorporated into a build always seems to stall in hamilton...?

 

[BCTed]

At this point I'll be happy to see even just a convenience store open on this lot lol. Anything is better than the current mess that we been staring at for years now. Hopefully this is the last change of hands! Make it a purpose built rental.

I'm not sure how the prevailing sentiment came about, but it's not as if purpose-built rentals can just get financing and be guaranteed money-makers in this climate. Condo units and rental units are both part of the residential ecosystem and it seems that there is an ample amount of available supply of both in Hamilton right now.

 

[BCTed]

Ever notice that anything that involves a church being repurposed or incorporated into a build always seems to stall in hamilton...?

Honestly, I think the whole look of a church facade with a modern condo building within/above just looks silly. I don't see the point.

 

[Midtown Urbanist]

Official

 

[Chronamut]

Hmm that statement doesn't really show what the fate of the existing church facade will be..

Hopefully a design that integrates better with the church will be proposed - the other was too jarring in relation to the facade.

 

[KingJames]

So Vantage now has two properties, both in Hamilton. This one cost them $11MM, so will be interesting to see which one they act on first, can't imagine the Cannon Street has much carrying cost vs this one. Regardless, hope they have deep pockets or angel investors.

 

[Northern Light]

Article on Vantage's purchase and plans in Renx:

Vantage buys second Hamilton condo development site

Vantage Developments has acquired a development property at 98 James St. S. in Hamilton for $13 million after it was placed in receivership last August. The downtown site marks Vantage’s second acquisition in Hamilton.

renx.ca

Key bits when looking ahead: