Construction has finally started on Hamilton’s Royal Connaught Hotel to convert it into condos.
The owners received a building permit on Friday and the crew has started restoring the three-storey grand lobby and building a model suite on the ground floor. The plan is to put 135 condos in the original structure on King Street East and John Street South.
The once-famous hotel has been empty since going bankrupt in 2004. One of the developers, Ted Valeri, says the condos will range from 530 to 1100 square feet, and will start in the $100,000 range. He says there’s already been a lot of interest in the project.
“We’ve had over 1,200 registrations and we’re very happy with it. The people are all excited, as we are, that this building has finally come to fruition and is going to be reopened again.”
Valeri says he expects that the building will be ready by 2015. Presales will start once the model suite is open. While owners are building 135 condos in the hotel right now, the $200 million dollar plan originally called for 700 units in four buildings.