123 James St North | ? | ? | Planning

[palace1]

Originally Posted by SteelTown

There's all kinds of permits. Foundation, structural, fire sprinklers, outdoor signage, etc.

You don't get the permits all at once. You do one permit at a time.

Thanks for the quick answer, so presumably they have already submitted drawings to the city of a building that fits on the permitted foundations and don't require any zoning variances.

I was worried the building foundation had the potential to sit undeveloped like the Bay-Adelaide Centre in Toronto http://en.wikipedia.org/wiki/Bay_Adelaide_Centre

[Jon Dalton]

I think they only have the permit for the foundation because the detail design of the building is not complete.

This is a good thing. The building is not 100% leased, only about 60% as the developer stated he would need to have to proceed with construction. Unit sizes and layouts will be finalized as tenants sign lease agreements. Leaving the design more open ended while there is still time to fine tune is good for the customer.

The fact that they are proceeding without final plans in this case I believe is cause for optimism. They could have simply delayed until more tenants had signed, architectural work was complete and full building permits approved. This approach shows a sense of urgency that is there when the money is on the table.

[thistleclub]

The capacity of the underground parking will presumably offer a clue as to the anticipated capacity of the building.

[SteelTown]

Developer announces plans for James North building
Jack Beume believes $10 million office/retail structure will help improve downtown

http://www.thespec.com/news-story/32...orth-building/

Jack Beume says a shovel will be hitting the ground on his James Street North property on June 17 to start building a $10 million office/retail building because he's convinced it will be a great investment in a downtown that's turning around.

A year ago he put a "for lease" sign on his property at James and Vine streets to test the waters. He got the nibbles he was hoping for, and now he says he is going through with the project that's actually $1.5 million more than he initially projected.

"I'm not stupid," the 76-year-old real estate developer says. "I've spent 35 years learning at the altar of money (Bay Street, Toronto). I know how to do this ... I put money where I think it is going to work."

The 31,000-square-foot building, he says, will be three floors with the first floor retail and the other two office space.

He says it's 60 per cent preleased with a major tenant moving into the office space of the building. He won't say who the tenant is, because the company's owners want to make the announcement themselves. He won't say who his lender is either.

Beume, who owns a dozen buildings around the city, last year paid $325,000 for the vacant lot at 123 James St. N., next to a parking lot he already owned at the corner of James and Vine streets.

By joining the two parcels of land together, he says, he was able to come up with a viable property to construct an office building which he says will have underground parking for 75 cars.

Glen Norton, manager of downtown renewal for the city, says: "I think it is a good thing for the downtown.

"It shows confidence in the downtown. It will provide new office space we haven't had for a while.

"I think it is rather courageous of him at a time when we still have a fairly high office vacancy rate," Norton says.

But he believes that newly constructed office space would appeal to businesses who want something different than the inventory that's out there.

Beume says he'd like to call the building Hamilton House but he figures someone probably has already taken that. Another possibility is 123 James.

[Jon Dalton]

He won't say who the tenant is, because the company's owners want to make the announcement themselves.

Does anyone have the dirt on this?

As for the retail floors, I wonder if Starbucks has taken notice. That would certainly generate 'interest' on the street.

[thistleclub]

Possible thread: The Dundas Starbucks is located in a building developed by one of the Dominion Furniture partners.

And since First Stop Donuts & Deli was replaced by Money Mart, the block lacks a coffee shop.

[Jon Dalton]

It's just a rumour but I heard from someone on the street that they might have City offices moving in and that Subway will be on the ground floor. I hope there will be better news for the economy than relocated jobs and chain fast food.

[matt602]

Definitely hope that's just a rumor. If its true that will be the 4th Subway store within downtown. A bit over saturated and not exactly eye-catching.

[pEte fiSt iN Ur fAce]

This 76-year-old property speculator - not developer - will not take the time to look for the right tenants, I'm guessing. He'll fill that street-level commercial with whatever suits him - fast food, Money Mart, what have you. His interest in James North extends no further than how it could potentially augment his bank balance.

And the article failed to mention that he's been sitting on that James-Vine lot longer than most of us have been alive - 35-40 years? It's people like Beaume who have gone out of their way to destroy downtown. Their modus operandi? Buy a building, knock it down and wait...for decades! The buildings that once stood on these parking lots didn't just vaporize, after all.

I don't like him. I don't like his kind. But had he proposed something a little less made-in-Hamilton and at least pretended to understand what was happening on the street, then I'd let him off the hook but alas...

>>>>>>>>>>>>>>>>>>>

p.s. Yes, I'd agree that the CBC building could use a cornice of some sort but I still think it fits in beautifully with its neighbours, not to mention the great, hairy bollocks the architects showed by going with that façade.