DUNDAS: MILLION DOLLAR CONDO

by Darrin DeRoches December 18 - 24, 2014

I read an article recently that explained the story behind the Dundas District Loft project. It was a glimpse into what a couple of brothers have been building in the city for the last thirty or so years.  Dave and Mike Valvasori have done great projects throughout the years and I personally believe they should be recognized by our community. I doubt they would like a plaque or something but I believe we should organize a seminar on how to invest in Hamilton — lead by Mike and Dave.  You can go back to a time where banks would not lend in downtown Hamilton but they still found a way to make things happen. They are a Hamilton family who better the city by each project they conceive, finance and build in our city.      They just finished the Dundas District Loft project which they sold out by themselves with units going from three hundred grand to a million dollars. That is right, there is a million dollar condo sold in Dundas without all the glitz and glamour of out of town brokerages or slick marketing.  That in itself is a testament to the project and Dundas as a whole.  They are about to embark on a new project in the Queen and Bold area on a piece of land I myself had shown “so–called investors”.  My clients, as many others, overlooked this plot of land that could be built into a 12 story building but they are doing nineteen units on four floors.  This will be another home run for these builders — mark my words.  Yes, around the corner are a couple of tough rental towers with issues but the rest of the neighbourhood will make the project shine.     People get excited about certain projects from “out–of–towner’s” but I believe Hamilton has all the talent we need to develop our city.  The construction companies, realtors, banks, lawyers, architects in this city can take the real estate market into greater heights than some out of towner’s who do not understand what the city needs or wants.  I keep my eye on certain projects that use out–of–towner’s and you can see the sales falter for various reasons. They build the wrong product, or use the wrong brokers, and the sales are reflected in these decisions.  I would like to see someone sell a million dollar condo in downtown Hamilton as they did in Dundas. It will happen, in time, but you have to offer more than a white vanilla box to sell such a unit.     I personally look to work with someone local before I do anything.  It’s not because I am trying to pander to the community, but rather I like to know the person I am working with, and support my city.  There are a lot of creative people in this city but more importantly there are people of character who can not only deliver, they can knock it out of the park!  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.