Approval extended for James Street South condo project
Hamilton Spectator
by Natalie Paddon
20 June 2018

The city has granted the new owners of a downtown highrise condominium project a one-year extension to the conditional site plan approval for the James Street South development.

After being placed in receivership last summer, The Connolly — located at the site of the former James Street Baptist Church — was sold to Hue Developments and Investments Canada Inc. in February.

The sale was approved in court last month.

The conditional site plan approval had been set to expire May 25, 2018, according to court documents. But the city extended it for a year, city spokesperson Marie Fitzpatrick said in an email last week.

Michael St. Jean, of St. Jean Realty, which has been the selling agency for the development, recently told The Spectator the closing date for the transaction is in a couple of weeks.

Once that happens, receiver Spergel Inc. will start a claims process so those who bought units under the former owner Louie Santaguida can get their deposits back because existing agreements are being torn up as part of the new deal.

"Really, at this point, it's just a matter of waiting," St. Jean said. "Waiting for closing, waiting for the deposits to be refunded and then hopefully right around that time ... we'll be able to then have everything ready to kind of move into the next chapter of this project and get things going."

After the would-be unit owners get their money back, they'll have a chance to purchase suites in the new project at a similar price per square foot as they originally paid, St. Jean said.

St. Jean said "significant changes" have been made to the design of the building, including rejigged parking, adding and altering units and the possibility of new and improved amenities.

The Connolly had been envisioned as a 30-storey, $80-million undertaking.

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