Comment 85420

By Robert D (anonymous) | Posted January 23, 2013 at 09:50:10 in reply to Comment 85418

He's not planning to rebuild at all. He has a "concept" but still doesn't know what it will look like in the end. He has no financing or partners - read what he himself said to the Spectator (or was it CBC) when he and his partner couldn't even agree whether or not the final development (whenever it happens) will have condos.

There are many people who WANT to buy these buildings. Some of them even post on this site, and have been involved in restoring other buildings nearby. They have offered to buy and restore these particular buildings. Blanchard refuses to sell them because he has bigger plans.

Investors are beating down a path to investment in downtown Hamilton, but people like Blanchard, who have held onto decaying properties and parking lots (some of which he created by demolishing what was there) are holding development back as they "wait" for the rising tides to raise their ship, and then they hope to make their money and get out. You don't even have to go that far away from these buildings to see the loving restoration and rennovation that is being done to other buildings.

Conversely, you also don't have to go far to find buildings that are owned by absentee landlords who just collect their cheque without investing, rennovating, or maintaining. In the worst case you find owners of vacant buildings happy to let it sit empty and vacant, not putting any money into it (or even paying taxes) and letting it deteriorate, wilfully ignorant of what the state of that building is doing to the perception of the neighbourhood.

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