this blog entry has been updated
Wesley Hatt, project manager for the Stinson School Lofts, has confirmed in an email to RTH that the units in are 75 percent sold and construction on the lofts will begin this Monday, July 4.
The average selling price has been $300,000, with some units selling for over $400,000, demonstrating a viable Hamilton market for upscale condos.
According to an email to buyers from Harry Stinson, the property developer behind the loft conversion, "Funding is being provided through a joint venture arrangement with FRAM Building Group and Cameron Stephens Financial."
The developer hopes to have the houses across the street from the school complete by January 2012, and the main school finished by summer 2012. Photographs of the work in progress will be posted to the Stinson School Journal, a photo blog started by Hamilton photographer Larry Strung.
Update: this blog entry originally stated that the construction was going to begin on Tuesday, July 4. RTH regrets the error.
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