KingJames
Active Member
Don't get me started on my Vacant Land Tax idea to rid the Hammer of land speculators
- Thread starter innsertnamehere
- Start date
Chronamut
Active Member
I've heard it before and yes it is a good idea.
christiesplits
Senior Member
Given the market slow down, it could take a while.
innsertnamehere
Superstar
There are still starts happening. We have had 2 new towers start this calendar year (48 Ferguson and 188 Cannon) so starts are still trickling in. Likely just not as fast as everyone had hoped.
Even 2 starts a year is a very, very strong pace for Downtown Hamilton compared to the last 30 years.
ProjectEnd
Superstar
Fengate will be fine but I do genuinely wonder (and, if I'm honest, do believe) if Vantage is all smoke and mirrors...
innsertnamehere
Superstar
I do too - but they have site activity going for 188 Cannon and seem to have (some) sort of financing backing them They are an offshoot of Emblem, with the two co-founders ex-VPs of Emblem.. so take that as you will. Where that money is coming from is anyone's guess. Their purchase of 98 James S seems well financed and they have actually sunk some money into cleaning the site up, something the last two owners of that property couldn't manage to do.
In my eye, the next round of potential starts in Hamilton include:
1. 186 Hunter (Fengate) - fairly likely given the backer and recent activity on approvals
2. 92 John (Emblem) - apparently a rental now, but who knows how Emblem is doing financially these days..
3. 64 Main St E (Core) - this seemed almost ready to start but now looks like Core is rapidly approaching insolvency and is fire-saling their sites. I haven't seen this one for sale yet though, so who knows..
4. The Rebecca (Rosehaven) - I think Rosehaven is sitting at that awkward point with this one where they have a decent amount of pre-sales but not quite enough for actual financing.. so, again, who knows.
5. Design District 3 (Emblem) - They did launch sales here and are probably eager to go on it even if sales are a bit lackluster given the phased nature of the wider project, but again, who knows..
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