I live near the Stinson lofts, and the neighbourhoods are COMPLETELY different, although they're close - different incomes, dynamic, attractions, proximity.
Harry Stinson also has another project, the Hamilton Grand, at John and Main - almost halfway between the Stinson lofts and this building. Completely different projects again.
A project nearby that has more in common with this than the Stinson lofts are the
Film Work Lofts nearby on King William. Stinson's buyers are almost all out-of-towners downsizing from houses who enjoy an urban environment and pretty luxe surroundings.
This is my entirely biased, entirely personal opinion, not saying i've got a business expertise with this:
Obviously you have to develop it in a way that makes it the most marketable and makes the most money. Following the Film Work lofts' lead and the units they have could be the most successful way to go - there's obviously a big market for what they're doing, which is awesome.
Given the proximity of the building on Cannon to the James Street North arts district and some of the jobs downtown, I'd also market to Toronto transplants who are moving to Hamilton, but a younger professional crowd looking for great urban space, not downsizers like Stinson's lofts. Those who would rather own than rent live/work space in close proximity to James North.
It is a cheap neighbourhood, but there's some beautiful houses around. There's also a few drop-in centres nearby and some very derelict places too. The park is a big bonus for dogs and kids.
A few months ago, myself, my husband and a couple I know walked by this building. Three out of the four of us are Toronto transplants, and we all agreed it would be great to buy flexible, large units in this building -- but only if the condo fees were low and there weren't a lot of amenities to pay for driving up the price. Otherwise, why not buy a house where the mortgage is only $700/month? I don't like how every 3 bedroom condo in the city has $700-ish maintenance fees -- that drives me far away from buying a condo when houses are so inexpensive.
If I buy a loft, I want large, flexible space that I can build a mezzanine in. And given the location and that the windows are old, I want windows that block out the noise and vastly reduce the heat loss in the winter. I'd even buy a "white box" condo if it was cheaper/had lower fees - I'd love to DIY the floors/fixtures/cabinetry instead of tearing out "builder's beige" stuff I didn't like and putting in new stuff, or paying a premium for higher-end things overall.
There's already projects like the Rebecca Street lofts that are 1 bedroom and a few 2 bedroom spaces, and while there's a bit of a loft aesthetic, the space is too small and inflexible to do anything with... That's definitely useful for a lot of people, but not something I personally want.
That said, I'm only one person, but we don't have much good BIG loft space in this city, let alone one that's reasonably priced for those who would look to own a condo instead of a house.