It's a home that can rise in value, is close to public transit, is walkable to most places that people in the suburbs must drive to, and affordable.
By Trey Shaughnessy
Published December 17, 2009
Rosewood Suites is an apartment building complex of 500 units adjacent to the former Centre Mall on Barton Street recently turned into the Centre on Barton nice creative name - a new retail format of large pad-site anchor stores surrounded by smaller pad-sites and strip plazas normally called a Power Centre.
The existing building located at 486 Ottawa Street North between Beach Road and Barton Street was previously an un-noticed rental complex typical of East Hamilton.
The gentrified condo-conversion is now called the Rosewood Suites and has undergone a $2 million upgrade. That's an impressive feat for the money, considering 500 units now have new windows, flooring, hardware, kitchens and baths, plus a new roof. Basically, you get a brand new crib.
While the exterior remains the same, the inside isn't. The units are one, two, two+ and three bedrooms, ranging from 460 - 902 sq ft. The prices are affordable to anyone with a job and credit from $75k to $108k. Not bad bang for the loonie, considering the same size units are 3-4x the price in downtown Toronto, and more if you include condo fees.
This is an area of Hamilton that the City seems determined to make work. The Ottawa Street Shopping District is only one block south, and the Centre on Barton - nice creative name - is next door.
Outside, within a 'real' walking distance is a 24-hour Metro, and several banks, pharmacies, and retail stores - the type that regular people frequent weekly or monthly.
This is not Yorkville where local retail stores sell $99 candles. It's pure Hamilton: working-class, honest, hard-working, home-owning families, mixed with the typical inner-city activities that go on in Toronto or any real urban city.
It's not far from downtown and it's easy access for out-of-town commuting. I have to ask some questions, though: Did the Red Hill Expressway have anything to do with this? Did the new Centre on Barton - nice creative name - have anything to do with this? Or is this a sign of Hamilton's underlying potential?
If you ask me, these are not for Toronto-bound commuters and this has nothing to do with the Red Hill Expressway. These are for working, young Hamiltonians who work locally and want affordable housing.
Perhaps they are for someone who works at the Centre on Barton - nice creative name - and uses public transit, is an honest and hard-working Hamiltonian, the type of individual that gave Hamilton its well earned and unique reputation.
It's a home that can rise in value, is close to public transit, is walkable to most places that people in the suburbs must drive to, and affordable. I like it. I like it a lot.
The Rosewood Suites' bang-for-dollar is A+. The exterior renovation gets a C-, but you have to keep it affordable. Overall, I give this project an A-. It's good for Hamilton and it's good for the area. I hope more of the area gets gentrified as time goes.
The developers deserve major credit for investing in this area. They must see potential or else would not have invested in this building.
The website lists their next project rental/condo conversion project as the Wellington Suites. Word is this is the building at Wellington and Wilson. We'll look forward to that.
More info: http://www.therosewoodsuites.com/#home?id=1
You must be logged in to comment.
There are no upcoming events right now.
Why not post one?