Hamilton 1362 Barton Street East | ?m | 6s | Kiwanis Homes | McCallum Sather

[Paclo]

A new formal consultation has occurred on the addresses 1362 - 1374 Barton Street East with the following description:

To redevelop 1362-1374 Barton St E by demolishing three existing buildings to accommodate a 6-storey multiple dwelling containing 58 units of affordable rental housing for seniors.

View of the 1374, the corner parcel:

1370 Barton (left) includes the parking lot and 1362-1364 is the duplex on the right:

 

[Chronamut]

A seniors center on barton? Interesting...

 

[Chris R.]

Could probably go to 8 storeys. I'd especially commercial space retained on Barton, especially with seniors a medical clinic, dentist or optometrist on the first floor would be great.

 

[KingJames]

Where is the rubber stamp. We really should have an express authorization process for this down and out street.

 

[UrbanOzz]

the ground level should be retail if it's an affordable seniors residence. maybe groceries or a drug store or a clinic. I think all along Barton there should be ground floor retail.

 

[jta5]

The developer is Hamilton East Kiwanis Non-Profit Homes (@Paclo). There are renders in this video if someone would like to try to pull them here.

https://www.facebook.com/video.php?v=298679033150687

1370 is not connected to the adjacent parking lot at 1368, but the parking lot has been a City-owned lot until council approved transferring it (I'm not sure if sale or donation) to Kiwanis in 2023.

 

[Hawrylyshyn]

Picture1

Here you go

 

[BrenWilson]

Yeah I feel like these places never go for mixed use which is unfortunate, you'd think a retail tenant or something medical would help offset the costs. Hard to complain otherwise.

 

[Chris R.]

Yeah I feel like these places never go for mixed use which is unfortunate, you'd think a retail tenant or something medical would help offset the costs. Hard to complain otherwise.

I get that commercial units come with difficulties of their own, but especially from the perspective of an affordable housing development you'd think they'd make it work. They could rent it out for (profit), and use it to offset their costs.

I also heard that Kiwanis homes cannot utilize the capital of their owned properties to take out loans for.new buildings, something that is limited by the province I believe. Having a commercial arm that operates the commercial units to then fund the non-profit portion as a capital fund makes sense to me.

That being said, I'm not sure if that's just more complex than the non-profit would want to be, but that's how I'd operate it. I'd be looking for every loophole to find additional sources of income.

 

[innsertnamehere]

That assumes that rents on this stretch of barton would actually generate a profit. And honestly, I suspect they wouldn't.

I don't really ever see this stretch of Barton becoming a primary commercial street given it's proximity to Kenilworth, which acually has real potential, so it's not a huge deal.

If you want to improve commercial opportunities in this area, we should be looking at trying to get the Kenilworth retail street fixed up and operating in a healthy way, not new construction retail space along Barton like here.

 

[Chronamut]

A relative brought up an interesting question - as they live in a place which is basically full of retired people, to keep this on topic - and they "own" their building collectively..

when a business goes into the base of a condo who do they pay? Are they charged rent? And from who? Or is it considered like a condo unit and they "own" their business unit?

 

[Chris R.]

That assumes that rents on this stretch of barton would actually generate a profit. And honestly, I suspect they wouldn't.

I don't really ever see this stretch of Barton becoming a primary commercial street given it's proximity to Kenilworth, which acually has real potential, so it's not a huge deal.

If you want to improve commercial opportunities in this area, we should be looking at trying to get the Kenilworth retail street fixed up and operating in a healthy way, not new construction retail space along Barton like here.

Commercial property overheads are soo low. They could rent it out for barely any rent and turn a profit. They own their properties outright, and commercial renters are responsible for property tax and utilities. There's very little overhead for owning commercial units. They're incredibly lucrative. It's why I never understand why landlords don't just lower the rent and get someone in.

 

[Chronamut]

That assumes that rents on this stretch of barton would actually generate a profit. And honestly, I suspect they wouldn't.

I don't really ever see this stretch of Barton becoming a primary commercial street given it's proximity to Kenilworth, which acually has real potential, so it's not a huge deal.

If you want to improve commercial opportunities in this area, we should be looking at trying to get the Kenilworth retail street fixed up and operating in a healthy way, not new construction retail space along Barton like here.

Here here!

Totally agree - do to kenilworth what was done to ottawa st.

 

[innsertnamehere]

Commercial property overheads are soo low. They could rent it out for barely any rent and turn a profit. They own their properties outright, and commercial renters are responsible for property tax and utilities. There's very little overhead for owning commercial units. They're incredibly lucrative. It's why I never understand why landlords don't just lower the rent and get someone in.

operational overhead - not capital. And Capital is the vast majority of cost in real estate in general. You have to be able to pay for the construction cost of the space.

The area clearly has such low commercial demand that landlords can't be bothered to fix up existing storefronts to rent them out, yet alone construct new space.

 

[innsertnamehere]

My mom brought up an interesting question - as she lives in a condo (the bayliner down by the water which is basically full of retired people, to keep this on topic) and they "own" their building collectively..

when a business goes into the base of a condo who do they pay? Are they charged rent? And from who? Or is it considered like a condo unit and they "own" their business unit?

Depends. Often the commercial unit is a part of the "condo" which is owned individually just like any given unit, and the rent goes to the owner, just like a unit in a condo building which is rented out would.