macro
Active Member
just drove by to confirm, open house weekends 11-3
- Thread starter AlbertC
- Start date
Chris R.
Senior Member
Found the post on Facebook from someone that I believe to be his daughter: https://www.facebook.com/share/KrhBv4a75WnbkhLk/?mibextid=kL3p88
Chris R.
Senior Member
Stinson is still trying to make this a thing
AlbertC
Superstar
The undying spirit of Stinson
Branden Simon
Senior Member
Harry Stinson has been in receivership since early this year. Someone else will gets a shot at its redevelopment.
From TheSpec
https://www.thespec.com/news/hamilt...cle_3945a779-e804-52ac-9947-2d325dd3631d.html
Embattled developer Harry Stinson’s latest school conversion project, the Gibson School Lofts, is in receivership due to missed mortgage payments.
But Stinson said in an interview he is seeking a new partnership to help pay out his lender and allow him to finish the redevelopment at 601 Barton St. E.
“The best way for both of us, for all of us, including the (condo) buyers … is to come to an agreement that the construction gets completed,” said the longtime Hamilton developer. “We could have people in (the building) this year, occupied.”
Court documents viewed by The Spectator show the lender is seeking more than $4 million in repayment on two separate loans. The documents also noted past lender concerns about contractor liens and tax arrears that totalled hundreds of thousands of dollars in 2022. The current status of those previously cited liens and arrears was unclear Thursday.
The Spectator reached out to the receiver, B. Riley Farber Inc., on Thursday to seek clarity on plans for the property, but has yet to hear back.
Stinson confirmed he “fell behind” on payments to the lender. “There’s no question it has been a rough year,” he said.
Despite those challenges, Stinson said he has no plans to sell local projects like Gibson or a long-delayed condo proposal at the Cannon Knitting Mill.
“Selling any project in this market would be delusional,” he said, adding he hopes to go ahead later this year with new marketing for the project at the former knitting mill near Beasley Park, which the city recently decided to designate as a heritage building.
From TheSpec
https://www.thespec.com/news/hamilt...cle_3945a779-e804-52ac-9947-2d325dd3631d.html
Embattled developer Harry Stinson’s latest school conversion project, the Gibson School Lofts, is in receivership due to missed mortgage payments.
But Stinson said in an interview he is seeking a new partnership to help pay out his lender and allow him to finish the redevelopment at 601 Barton St. E.
“The best way for both of us, for all of us, including the (condo) buyers … is to come to an agreement that the construction gets completed,” said the longtime Hamilton developer. “We could have people in (the building) this year, occupied.”
Court documents viewed by The Spectator show the lender is seeking more than $4 million in repayment on two separate loans. The documents also noted past lender concerns about contractor liens and tax arrears that totalled hundreds of thousands of dollars in 2022. The current status of those previously cited liens and arrears was unclear Thursday.
The Spectator reached out to the receiver, B. Riley Farber Inc., on Thursday to seek clarity on plans for the property, but has yet to hear back.
Stinson confirmed he “fell behind” on payments to the lender. “There’s no question it has been a rough year,” he said.
Despite those challenges, Stinson said he has no plans to sell local projects like Gibson or a long-delayed condo proposal at the Cannon Knitting Mill.
“Selling any project in this market would be delusional,” he said, adding he hopes to go ahead later this year with new marketing for the project at the former knitting mill near Beasley Park, which the city recently decided to designate as a heritage building.
Milaisacat
New Member
^ You have to imagine my surprise at the news. Surely, few other local developers function as a well-oiled real estate machine more than Stinson?