Weaving grand plans for Cannon Knitting Mills
Inside, it’s dark, dusty and empty, just like so many other derelict factories around Hamilton.
In Harry Stinson’s imagination, however, the Cannon Knitting Mills at Cannon and Mary streets, is pulsing with life — its restaurant packed, its event centre humming, commercial shops bustling and 150 condo units filled with happy people making a life in downtown Hamilton.
Maybe that is a little colourful, but then so is Stinson. Besides, love him or hate him, at least he’s making things happen by turning abandoned schools and a factory into homes.
Stinson opened up the knitting mill Sunday for an open house for potential buyers, even though, by his own estimate, it will be two years before anyone calls 134 Mary St. home.
“This is really an exciting location,” he told about 50 people gathered for the initial tour. “This will really add to the development momentum of the neighbourhood.”
Stinson acquired the property two weeks ago for $3 million after coveting it for years. It had been held by the city for several years after other development plans failed to materialize.
“I’ve been stalking this building for seven years,” he said, adding the building sold for more than its asking price and attracted some spirited bidding.
Dating back to 1830, the building was originally a foundry for making stoves, and later a knitting mill. The site includes seven buildings of different ages.
Its selling points, Stinson said, include being a walkable distance from just about everything in downtown Hamilton, including the Farmers’ Market, new GO station, the restaurants of James Street North, City Hall and the new McMaster medical facility.
In fact, he told his audience, professionals like the doctors and other staff at that facility are one of his key target markets.
“Hamilton has an enormous transient population of people in health care,” he said. “People are trying out Hamilton and maybe a building like this will help them decide to stay here.”
Another prime market will be empty-nesters looking for their last homes.
All the details of the project are still being worked out. Stinson said he thinks 150 residential units could be built, depending on demand; sizes will range between 500 and 2,000 square feet and prices between $199,900 and $799,900.
The Beasley Park Loft and Hotel will feature a small hotel component and provide residents with a 24-hour concierge and room service.
Stinson’s first Hamilton project was turning the former Stinson school on Stinson Street into condo lofts. He is also redeveloping the former Gibson school into a similar building.