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By Shempatolla (registered) - website | Posted February 17, 2011 at 11:56:41 in reply to Comment 59808
He made this proposal in 2003 when the economy was growing rapidly. Why didn't it happen? Likely because the realized the price tag was considerably larger than 9.6 million. The asbestos abatement alone on a building that size would have run into the millions.
By dropping the Fed and building new, higher to accomodate 180-200 units he most likely drives his per unit cost down and the per unit profit up.
Retrofitting and redeveloping is more expensive than new construction, period. Vrancor likely doesn't see the appetite for 300k plus condo units in downtown Hamilton. We can disagree with him all we want. Its his money to spend.
Personally I would be less and less accommadating were I running the city develpment department until this organization started doing something with the numerous illegal parking lots they have erected on sites they have razed in our downtown.
Cheers
Greg Galante
Hamilton
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