Comment 65443

By Richard Henry Lee (anonymous) | Posted June 30, 2011 at 17:14:17

*Construction is commencing at Stinson School on Monday, July 4th!*

Funding is being provided through a Joint Venture arrangement with FRAM Building Group and Cameron Stephens Financial. In terms of timelines, we expect that finishing selections will be done during the summer, the houses across the street will be completed by January, and the main school building by next summer. As word spreads about the construction, you can be sure we will be raising prices (on the unsold suites)! ...

Our average sale to date has been $300,000, with several sales in the $400,000 range. (When we launched the Stinson School project nearly two years ago, we were advised that there was minimal local demand for 'luxury' condos, and that we should not expect sales much over $200,000. In contrast we have found the consumer reaction to be "show us a superior product..... and we can - and will - pay an appropriate price").

We originally priced our suites at $200 to $250/sq.ft., and are pleased to see other recently launched local projects are now selling at $350 to $400/sq.ft. If I do say so myself, the Candy Factory Lofts was considered a major catalyst in the renaissance of downtown Toronto; the Stinson School is playing the same role in Hamilton.

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