Details of FirstOntario Centre revitalization revealed

Описание: Following months of secrecy, details have been revealed in the downtown Hamilton revitalization deal. Details included cheap rent, more condos, and state-of-the-art renovations to Hamilton’s entertainment precinct.

City hall and the Hamilton Urban Precinct Entertainment Group (HUPEG) taking over FirstOntario Centre and other facilities released the agreement Wednesday afternoon. The consortium is also eyeing the nearby Salvation Army to be included in the redevelopment.

The City of Hamilton signed a two-year rent agreement and the consortium that was tasked to overhaul the FirstOntario Centre, FirstOntario Concert Hall, and Convention Centre for $1 per year over 49 years.

Ryan McHugh from Hamilton Tourism said, “They just wanted the public to be able to see this detail and assess for themselves the benefits. That was something that this new council and mayor were elected on, is an increase in transparency…”

In the slightly redacted document, the master agreement says in return, HUPEG promises to sink in at least $50 million to transform the arena’s lower bowl and other amenities.

In addition, $10 million to revamp the Hamilton Convention Centre and more than $2 million to the FirstOntario Concert Hall and the Art Gallery of Hamilton among other costs.

HUPEG told CHCH News on Thursday, “We are confident that this release will give the public comfort that the value proposition of the project is tremendous by providing the taxpayers $155M in savings over 30 years.”

The deal includes HUPEG acquiring two nearby parking lots and a property on York Boulevard slated for residential towers within the next five years.

Concordia University economist Moshe Lander says stadium and arena developers usually want the surrounding land for development purposes, “and that’s really where they make their money…”

The documents also indicate HUPEG will also “…act in good faith and use commercially reasonable efforts to relocate The Salvation Army…” from its current location across the street from FirstOntario Centre to a new home acceptable to the shelter.

Ward 2 councillor Cameron Kroetsch has concerns, “…If that happens, we really have to make sure we get that transition right. What we saw when we closed the Wellesley Day Centre down it was abrupt, there wasn’t a transition plan in place and suddenly folks were then scrambling around the city to use other services.”

The Salvation Army says it’s staying put, “for the time being, The Salvation Army is committed. We are where we are on York Boulevard, we have zero plans to relocate our York Boulevard location…”

HUPEG says the start date for construction is January 2024 and they anticipate completion in 18 to 20 months.