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By kevlahan (registered) | Posted July 08, 2013 at 16:42:22
We shouldn't forget that there are successful examples of adaptive re-use of large commercial buildings that were at one time considered "decrepit" and of no commercial value, including the Pigott building right around the corner.
The Pigott building is still standing because it was designated and then restored.
As a recent Spec article point out:
"The condo board members want people to realize the once derelict structure is very much back on its feet and merged with the Sun Life building next door, making 110 condos. And the residents, through the board, have made enormous improvements including $677,000 to restore the exterior, and hundreds of thousands of dollars’ worth of work inside."
The building had been stripped of its stained glass and other features and was a prime candidate for demolition. One can also point to Sandyford Place as an example a building that has been successfully renovated, but only narrowly escaped demolition. It is in fact one of the few National Historic Sites in Hamilton, and yet the original "developer" could see no value in it.
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