Heritage Vs. Progress

by Darrin DeRoches January 16 - 22, 2014

I have written about heritage properties before but it seems to be a popular subject as Hamilton’s downtown slowly gets redeveloped. You can go back to the seventies when they tore down everything and destroyed some of the best buildings Hamilton ever had. Today’s problem is the row of buildings in Gore Park that have been slapped with a heritage designation as a last minute ditch by councillor Farr. The owners of the properties – Wilson Blanchard are submitting a notice of objection to the heritage designation and trying to “push back” against the city. Everyone can have an opinion on the matter but one must really look at both sides.     First let’s take a look at the city’s side of the problem. They offered a million dollars to help with the costs of saving the façade, to be incorporated in the final design. Councillor Farr had many meetings with the owners and tried to come to a resolution but in the last moment, tabled the heritage designation and stopped all demolition of said properties. I applaud his efforts and on this alone he should be voted in for a second term. The next side of the problem is the owners of the property. They invested a ton of time and money over more than a decade to assemble the properties, maintain them and put together a plan to “revitalize” an important area in our downtown. They have done a great deal of investment in our city and almost everyone would agree they have done a great job in the past.     I personally believe as a real estate investor myself that they should be allowed to do what they want with the property. I strongly believe that all significant heritage buildings should be preserved and they should be allotted money to aid in the cost to save such important facades. Blanchard has preserved heritage buildings in the past and I would love to know the real reason in their reluctance in preserving these buildings. I understand the buildings themselves are beyond saving but the facades are worth every effort and investment to save. I do not know the reasons behind their decisions but everyone who understands a “heritage property” realizes the value of the façades and the return on investment they bring.     The city may have allowed the school board building to be demolished and they are trying to get the Baptist Church to save its façade but why can’t they find common ground with Blanchard? I hope the developers take a second look at their properties and find a resolution that serves everyone in this stalemate. The façades should be saved and they should use all the resources the city has offered and develop the properties with these in mind. They will get a better return on their investment than building another “glass block” that may have more square footage but no “soul”. Sometimes you have to be the caretaker of a property and this very property will take care of you by giving you a better return. 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 sold@uniquerealty.ca.