Downtown Rumours

by Darrin DeRoches November 8 - 14, 2012

It seems that interest in our downtown is still pretty strong. Over the past couple of weeks, I have had conversations with several people about the next great thing coming downtown. There are two restaurants that must be opening soon since they have removed the paper from their windows.  One is on James Street and the other on King Street in the International Village. There is also the Burrito Boys in Gore Park ready to go (who have had the longest hanging of an “opening soon” sign that I have ever seen), and the promotion of the Anchor Bar which is currently renovating the old location of Waltz.     That brings us to the rumour of Waltz reopening on King William but it’s only talk right now. The old Grapes N Things is being worked on right now which creates a lot of activity in that area.     At my last count, I can speculate that there are six different groups presently looking at properties to buy or lease for new restaurants in our downtown. This may not seem like a big deal but it really is. The old Windsor and Junction properties are being considered as well as others. It seems as though every single property that was a restaurant, nightclub, lounge etc., are all in the running. The most interesting thing about these rumours is that all but one of these groups are Hamiltonians, not outside parties. This says a lot about our confidence in our city. We are looking to put our money into our city. There are some restaurants looking to open a second location downtown and a few are considering relocating to somewhere downtown.     The obvious question is “why?”     We have to look inside the minds of restaurateurs and business people and consider what they are seeing that others may not be. It is not as though there are line ups for all the restaurants and that we need to open more but maybe that is not far off. Hooters are opening a downtown location so that must means something – right? All of this interest may be the next step in bringing back the excitement and nightlife to our downtown. To answer the question why is pretty simple – new  hotels and condos and more entertainment.      The removal of HECFI and the building of condos and multiple hotels are the reason that the soul of the downtown is starting to resurrect. People will be coming to town for more concerts and corporate events, and those who realize this are looking to invest in places for these people to visit. Corporate and independent investments are going to change the landscape of our downtown and it is just around the corner, not a pipe dream of yesteryears. Rumours are becoming reality and if you are considering real estate in our downtown, move now before it’s too late. Investors, restaurateurs, co–ops and corporations are all making moves – today. V     Darrin DeRoches is a local real estate and mortgage broker. He can be reached to answer questions, comments or stories about real estate experiences through this weekly column at mail@uniquerealty.ca.