Comment 28072

By UrbanRenaissance (registered) | Posted January 09, 2009 at 08:34:52

grassroots, I agree with you that the city has a responsibility to help those with low incomes but you're forgetting that its the higher taxes paid by the people who live in middle and higher end properties that will help fund those projects. The construction jobs will most likely be done by local or regional companies, the staff of the hotel and its amenities will most likely be local and any surrounding businesses will get a boost from the influx of people to the area. This would be a tremendous boost to the local economy when it is sorely needed. Not to mention that since it will be close to both proposed LRT lines the movement to bring LRT to Hamilton will gain an influential new ally.

Those units will absolutely get sold to both people from the Hamilton area (like Larry Di Ianni) as well as those from surrounding areas who want to live close to a GO station, international airport and extensive highway systems. If they chose to buy the units as an investment (since the building will also act like a hotel), these new purchasers will now want to encourage tourism, trade shows, conventions, concerts, etc. to our city to make sure those rooms stay full, providing an additional benefit to the city on top of the new income taxes and jobs it will create.

We can't get caught up in knee-jerk reactions like "new high end development bad - low income housing good" because every city need a balance of the two in order to survive.

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