New rental high-rise bucks the downtown condo trend
At a time when housing advocates are sounding an alarm over low rental vacancy rates, the city is poised to approve a new 12-storey building downtown that will house as many as 100 new apartments.
This building will also be the latest example of a multi-residential downtown high-rise where developers are banking on residents not owning cars and are building without parking spaces for each unit.
Councillors will vote next week whether to rezone 220 Cannon St. E., a project by developer Darko Vranich. The building will have commercial and retail on the ground floor.
The move comes at a time when housing prices are shooting ever upward in Hamilton, and condo developments are the norm for new multi-residential buildings. Jason Farr, councillor for Ward 2, says he doesn't think there will be much opposition when it comes to planning committee on Tuesday.
I think we probably want to move it along and thank the company for the project.- Jason Farr, Ward 2 councillor
"It's supported by staff. It's supported by the councillor. It's supported by the neighbourhood," he said.
"I think we probably want to move it along and thank the company for the project."
The committee will vote whether to rezone the land from downtown residential to downtown mixed use with a special exemption so there can be commercial use on the ground floor.
Right now, the land is an empty lot, Farr said. And the Beasley Neighbourhood Association has been vocal about its desire to see empty lots filled in with useful development. Farr shares that philosophy.
"What's coming is much better than what's currently there," he said.
By current standards, the building would require 100 spaces, or enough for every apartment owner to have a car. The Vranich company proposes only 64 spaces for 220 Cannon St. E.
Another notable example was in January, when city council approved the Connolly tower at James South and Jackson. That 30-storey condo tower will only parking space for half the residents, which inspired debate at the council table about whether Hamilton is ready to move beyond car dependency.