23 Apr Television City – yay or nay?
Television City, a necessary development for prosperity in Hamilton
Hamilton’s Television City is a project that has seen much criticism and debate. For some, the prospect of a new building that is taller than the escarpment seems to be nothing more than an inconvenience(blocks out the sun) and eyesore(doesn’t suit neighbourhood surroundings). For others, the idea comes with much excitement for Hamilton’s growth as a city.
The $300-million building proposal consists of two towers in the downtown core reaching 125 metres(40 storeys) and 94.3 metres(30 storeys) respectively. In Hamilton’s high demand housing market, this multi-use building would offer much needed residential and commercial space.
Because the downtown location at 163 Jackson Street West is commute and pedestrian-friendly, it is ideal for millennials seeking homeownership. The proposed towers offer 474,080 square feet designated for more than 600 units ranging from studio to 3 bedroom condos with prices starting around $220,000, and another 11,344 square feet allocated for retail, office and restaurant space at the street level.
Currently, Hamilton is one of the highest taxed cities in Ontario, a burden that taxpayers share with seemingly never-ending repairs to roads and the mountain access. With a population that has dropped by 25,000 people in over four decades, this equation doesn’t seem to add up.
In order for the city to proser-to stabilize the housing market by creating more vacancies, and create economic growth by encouraging more businesses to set up shop in Hamilton, we need to find smart solutions to these problems. You’ll never be able to please everyone at the same time, but weighing the pros and the cons, Television City seems like a solution for the greater good of Hamilton.