Royal Connaught Hotel | ? | 36 fl, 33 fl, 24 fl & 13 fl | U/C - Page 134

hamilton23 · #**2661** Posted **Oct 16, 2018, 5:27 PM**

Quote:

Originally Posted by Chronamut

It requires a lot of work internally. There is a lot wrong with it that you can't see that they were working on repairing. One was the leaking issues of the building next door. The other was the glass entrance which they needed to have in completely for fire code. It's never ever as simple as it looks.

The foundations for that glass entrance were poured so at least that is there for if someone else wants to take a stab at it.

I'm sure that's the case, but I'm sure they knew the risks prior to purchasing the building.

Chronamut · #**2662** Posted **Oct 16, 2018, 5:50 PM**

Quote:

Originally Posted by hamilton23

I'm sure that's the case, but I'm sure they knew the risks prior to purchasing the building.

Everyone knows the risk, but noone knows the true extent of the damage until they start to peel back walls etc. They also had personal financial issues that weren't originally an issue that became an issue when they had the business so they were trying to deal with that while trying to keep the repairs going. Life ended up dragging them down. I know both of them personally so I know everything that happened in this place.

Without the glass entrance in place (which were about 25-50 grand to install if I recall) they also couldn't sell liquor to the public, they could only do private events, as the building was still considered "under construction" entrance wise, so a lot of the money that would have come through that never materialized.

They also had people commit financially to it who later backed out if I recall correctly. And banks wouldn't support them because they didn't feel confident that it would be a success, for lack of better words.

hamilton23 · #**2663** Posted **Oct 16, 2018, 6:17 PM**

Quote:

Originally Posted by Chronamut

Everyone knows the risk, but noone knows the true extent of the damage until they start to peel back walls etc. They also had personal financial issues that weren't originally an issue that became an issue when they had the business so they were trying to deal with that while trying to keep the repairs going. Life ended up dragging them down. I know both of them personally so I know everything that happened in this place.

Without the glass entrance in place (which were about 25-50 grand to install if I recall) they also couldn't sell liquor to the public, they could only do private events, as the building was still considered "under construction" entrance wise, so a lot of the money that would have come through that never materialized.

They also had people commit financially to it who later backed out if I recall correctly. And banks wouldn't support them because they didn't feel confident that it would be a success, for lack of better words.

Then they should sell the building. It's that simple. If it's a financial issue and they're unable to pay for necessary repairs to the structure, they should sell while they can. It's a shame seeing it in shambles for the last 5-6 years.

Chronamut · #**2664** Posted **Oct 16, 2018, 7:05 PM**

Quote:

Originally Posted by hamilton23

Then they should sell the building. It's that simple. If it's a financial issue and they're unable to pay for necessary repairs to the structure, they should sell while they can. It's a shame seeing it in shambles for the last 5-6 years.

Agreed. But perhaps their goal is to simply lease it out to people and have them slowly repair it bit by bit so eventually they can sell it. Who knows.

Too many old buildings rotting when someone with ACTUAL money could fix them up. Not bashing anna or sean in any way of course. Sadly our city requires a lot of investment from those with deep pockets.

TheRitsman · #**2665** Posted **Oct 16, 2018, 7:53 PM**

Quote:

Originally Posted by Chronamut

Agreed. But perhaps their goal is to simply lease it out to people and have them slowly repair it bit by bit so eventually they can sell it. Who knows.

Too many old buildings rotting when someone with ACTUAL money could fix them up. Not bashing anna or sean in any way of course. Sadly our city requires a lot of investment from those with deep pockets.

It doesn't help that it is an absolute garbage location at the moment. Main is extremely volatile of a street to any and all development. Furthermore, the condo development at John and Main seems to have gone quiet.

hamilton23 · #**2666** Posted **Oct 16, 2018, 8:22 PM**

Quote:

Originally Posted by Chronamut

Agreed. But perhaps their goal is to simply lease it out to people and have them slowly repair it bit by bit so eventually they can sell it. Who knows.

Too many old buildings rotting when someone with ACTUAL money could fix them up. Not bashing anna or sean in any way of course. Sadly our city requires a lot of investment from those with deep pockets.

We're talking about the wrong building lol! I'm not talking about the building directly across from the Connaught that used to be a theatre way back... That building actually sold!

I'm talking about the building where the London Taphouse used to be at the corner of John and Main....

hamilton23 · #**2667** Posted **Oct 16, 2018, 8:24 PM**

Quote:

Originally Posted by TheRitsman

It doesn't help that it is an absolute garbage location at the moment. Main is extremely volatile of a street to any and all development. Furthermore, the condo development at John and Main seems to have gone quiet.

It doesn't take much for a quality developer to come in and change that.

The condo development at John and Main is going to be student rentals and it won't be a high-rise (if and when it gets built) They're way away from doing anything with that site because of contamination issues. There used to be a gas station on that land.

Chronamut · #**2668** Posted **Oct 16, 2018, 8:41 PM**

Quote:

Originally Posted by hamilton23

We're talking about the wrong building lol! I'm not talking about the building directly across from the Connaught that used to be a theatre way back... That building actually sold!
.

That building has not sold - they were leasing to the previous tenants. So unless they have sold since and I am not aware of it it's still not sold.

hamilton23 · #**2669** Posted **Oct 16, 2018, 8:57 PM**

Quote:

Originally Posted by Chronamut

That building has not sold - they were leasing to the previous tenants. So unless they have sold since and I am not aware of it it's still not sold.

There's a big SOLD sign across the front doors of the building. I'm assuming that building is sold.

Chronamut · #**2670** Posted **Oct 16, 2018, 8:57 PM**

Quote:

Originally Posted by hamilton23

There's a big SOLD sign across the front doors of the building. I'm assuming that building is sold.

Oh! Well I'll be darned.. must have been a recent sale - good for it! I'll have to figure out what is being done to it.

And lol yeah we were totally discussing the wrong building.

hamilton23 · #**2671** Posted **Oct 20, 2018, 3:56 PM**

Quote:

Originally Posted by Chronamut

Oh! Well I'll be darned.. must have been a recent sale - good for it! I'll have to figure out what is being done to it.

And lol yeah we were totally discussing the wrong building.

Yeah, it was fairly recent (within the last two months or so).

It looks like some work is being done at the former "Royal Brick Works" (not sure if that's still the name they're using.

They've been working there for a few weeks on and off.

hamilton23 · #**2672** Posted **Oct 20, 2018, 4:30 PM**

Phase 2 is officially sold out.

Things are lterally gearing up for Phase 3's launch.

King&James · #**2673** Posted **Oct 20, 2018, 7:32 PM**

^^^ that is awesome , congratulations. Saw on site today, heavy machinery, whats up with that?

hamilton23 · #**2674** Posted **Oct 20, 2018, 7:47 PM**

Quote:

Originally Posted by King&James

^^^ that is awesome , congratulations. Saw on site today, heavy machinery, whats up with that?

We're prepping for excavation of the Catherine St Parking lot for Phase 3.

King&James · #**2675** Posted **Oct 20, 2018, 8:57 PM**

Cool, any site restrictions to have underground parking or is above-ground the desired way to go?

hamilton23 · #**2676** Posted **Oct 20, 2018, 9:00 PM**

Quote:

Originally Posted by King&James

Cool, any site restrictions to have underground parking or is above-ground the desired way to go?

There will be both underground and above ground parking. Phase 2 residents will eventually be parking in Phase 3 as well.

King&James · #**2677** Posted **Oct 20, 2018, 9:34 PM**

Quote:

Originally Posted by hamilton23

There will be both underground and above ground parking. Phase 2 residents will eventually be parking in Phase 3 as well.

Still hope you guys do the whole base/podium of ph3 and 4 at the same time.

StEC · #**2678** Posted **Oct 21, 2018, 1:01 PM**

Quote:

Originally Posted by hamilton23

Phase 2 is officially sold out.

Things are lterally gearing up for Phase 3's launch.

Is Phase 3 the tallest tower? Really hoping that's the one that is started on next! Would also love to see the most up to date render!

timach · #**2679** Posted **Oct 21, 2018, 2:40 PM**

Quote:

Originally Posted by StEC

Is Phase 3 the tallest tower? Really hoping that's the one that is started on next! Would also love to see the most up to date render!

It's the tallest one!

hamilton23 · #**2680** Posted **Oct 21, 2018, 3:22 PM**

Quote:

Originally Posted by StEC

Is Phase 3 the tallest tower? Really hoping that's the one that is started on next! Would also love to see the most up to date render!

Phase 3 is 36 storey's and will be the tallest condo in Hamilton (not apartment)

New renders will be released soon once we start promotion.