734-756 King Street East | 43.26m | 15s | Proposed

[ScreamingViking]

Originally Posted by StEC

Even Barton looks less sketchy than this terrible stretch of Hamilton. Honestly level most of this strip and rebuild from scratch (including replacement low income housing within the mix).

So many properties along King through the central part of town have been levelled, and not just recently as Metrolinx has acquired and demolished buildings on a number of them to make space for the new transit line.

King between the Delta and Wellington is such an odd mix. Some retail (including small plazas), parking lots, homes, apartments, empty wastes awaiting LRT-related new development... it's a street that doesn't have much of an urban identity aside from being damaged but full of potential. I can remember when long parts of it were more of a "high street" (at least by Hamilton's definition of one) but that was decades ago. Right now it's one of the city's most incomplete streets.

If there was a market for varied retail, we'd see it. There isn't one.

LRT will hopefully help change all that. It will mean more people living near King with more spending power, but the likely displacement of many who currently do but won't be able to afford to stay. There was lots of talk about ensuring there is "affordable housing" as King redevelops, but I really don't have faith there will be much action on that.

[jonny24]

Originally Posted by TheHonestMaple

Stubbs precast should be illegal. Does that company have no shame?

There are much nicer ways to do precast than most of their buildings, and Stubbe's is capable of doing that. Usually clients choose not to pay for the upgrades.

https://www.google.com/maps/@43.4980...8192?entry=ttu

[ScreamingViking]

Vranich is a cagey bugger -- has the "donation to the city" plan been mentioned before? I don't specifically recall that.


Vrancor takes 'step back' from Hamilton affordable-housing pitch
City staff, area residents flag issues with pair of proposed towers

https://www.thespec.com/news/hamilto...i_medium=ymbii

Teviah-Moro
The Hamilton Spectator
Thursday, January 4, 2024

Hamilton megadeveloper Darko Vranich's plan to build, finance and donate a 131-unit affordable-housing “legacy” project to the city has hit a snag.

Planning staff and would-be neighbours in the area have flagged problems with his pitch for a vacant lot on King Street East at Sanford Avenue.

That has prompted Vrancor Group, which is Vranich's development firm, to mull over next steps.

“We're confused. We need to take a step back,” Mario Frankovich, vice-president of investment and strategic planning, told The Spectator.

Frankovich noted Vrancor opted to “table” its requests for minor variances in December in the face of a staff report that recommended the city's committee of adjustment reject them.

The proposal calls for two buildings on the site: a 12-storey tower with affordable rentals, which would be donated to the city or CityHousing, and a 15-storey twin with 167 market-rate units Vrancor would retain. They are to be connected by a podium with amenities.

Vrancor says the project would increase residential density along Hamilton's future LRT route in support of commercial development and ridership, and “does not present any serious deleterious impacts” on area homes when it comes to shadows or overlook.

The city, however, has pointed to a number of issues with the proposed height, massing and setbacks with a neighbourhood of low-rise homes to the south.

Vrancor's requests “are not minor in nature,” staff wrote and advised more involved land-use amendments and site-plan work would be needed to “complete a comprehensive and holistic review of the proposal.”

Area residents, meanwhile, have signed a petition calling for the committee to reject Vrancor's proposal, raising concerns over the plan's lack of trees, privacy and parking.

In a letter to the committee echoing their misgivings, Coun. Nrinder Nann wrote that her constituents want added density along King and affordable housing.

But Vrancor's proposal “reads as a maximization of inside, profitable space, and a lack of amenity space for tenants, public realm, shaded by trees, containing green space that could contribute positively to the local area.”

Frankovich said Vranich was “surprised” by staff's take on the plan.

“We’re talking about something that Darko has turned his mind to as a legacy,” he said. “So it’s extremely important.”

Asked if the blueprint could be changed to address the issues, Frankovich pointed to construction and carrying costs.

“The economics of building don’t make sense at certain levels and what was being proposed to CityHousing Hamilton was something that worked on the basis of how you deliver housing to people who can only afford to pay $1,100 a month.”

And along the LRT route, where density is meant to be boosted, Vrancor could consider pivoting to an “all-for-profit development.” If not locally, approvals could be sought before the Ontario Land Tribunal, Frankovich suggested.

“That's not choice No. 1,” he emphasized. “Choice No. 1 is still a legacy with affordable housing and a conventional for-profit sister tower.”

...


The plan involves setting up a foundation to “bridge the equity-funding gap” for the affordable project and ensure low rates for tenants. Through a 20-year lease arrangement with the city, Vrancor would donate the building to the municipality or CityHousing.

The social housing provider, which oversees roughly 7,000 units and 13,000 residents, would operate the building from the outset.

“What we can do is we can deliver stock and inventory of affordable housing,” Frankovich said. “We can ensure the tenants can pay a deeply affordable rate. Where we do not have a skillset is in the affordable-housing sector.”

The foundation is “central” to Vranich's estate planning, he said, noting targeted charitable tax credits are preferable to “similar sums of money to the general coffers” of government.

Vrancor is also looking into federal funds for affordable housing through the Canada Mortgage and Housing Corporation (CMHC) but the project doesn't hinge on securing those dollars, Frankovich said.

The goal is to be “shovel ready” by 2024. “We want to get started as soon as possible … It could be the first in a series of repeatable projects.”

...

[PaperSun]

Donation? Ya right...

[SteelTown]

Originally Posted by ScreamingViking

Vranich is a cagey bugger.

Really though? This is exactly what Vranich has done with all of his other projects: get the committee of adjustment to approve it.

Frankovich said Vranich was “surprised” by staff's take on the plan.

And this is precisely the problem I have with the city lately....they either don't enforce the same rules for everyone or just make up new rules.

[ScreamingViking]

Originally Posted by SteelTown

Really though? This is exactly what Vranich has done with all of his other projects: get the committee of adjustment to approve it.

I meant the comment with respect to this "donation" idea (made an edit to connected the two)

His M.O. with other developments is just the way he does business.

[SteelTown]

Originally Posted by ScreamingViking

His M.O. with other developments is just the way he does business.

Exactly...I guess council should rename the committee of adjustment to MINOR committee of adjustment. Ugh

[Innsertnamehere]

What they apply for are "minor variances" to the zoning by-law.

Getting a minor variance costs a fraction of a full rezoning however - it's a big reason Hamilton is generally so developer friendly since the existing zoning in the city is generally pretty permissible so developers don't often have to go through an extensive zoning process. Hamilton's application fees and Development Charges are also generally lower than most other nearby municipalities.

[SteelTown]

CityHousing to study Vrancor pitch further
Prolific high-rise developer and municipal housing provider explore partnership

https://www.thespec.com/news/hamilto...a9f4e08c4.html

CityHousing Hamilton is studying the creation of a charity to anchor a potential affordable-housing partnership with prominent local developer Darko Vranich.

That charity would receive the developer’s operational subsidies and capital donations as part of a plan to construct roughly 100 affordable units for the municipal housing provider.