Hamilton councillors could be fielding third bid to revamp entertainment precinct
There is a potential third party interested in submitting a bid to help redevelop Hamilton's entertainment precinct in the downtown core.
In a letter to the City of Hamilton dated Feb. 3, a consortium lead by Pearle Hospitality, has announced their intention to develop a bid for the project.
"Key features being developed include a brand new luxury five-star hotel, a new architecturally stunning convention centre, and potentially a new arena, that will combine to make Hamilton a leading leisure and business travel destination in the country," the letter says.
There is no price tag attached to this project yet as they seem to be in the relatively early stages of planning their approach to the massive project.
" If we proceed, we will only do so if we can make an economic case to build and operate state-of-the-art, iconic legacy assets as we have with our other developments," the letter states.
"We are carefully proceeding to ensure that our interests and vision are aligned with the City's and that we can create an outcome that is viable and in the best long term economic and community interests of the city."
The project's vision is lead by Pearle Hospitality's principal, Aaron Ciancone, and project director Aaron Waxman, both well-known Hamiltonians.
The letter is on the General Issues Committee agenda for Wednesday's (Feb. 5) meeting where they will be discussing a $200 million bid from Hamilton developer Vrancor and another pitch from the Hamilton Urban Precinct Entertainment Group (HUPEG), which is made up of LiUNA, Carmen’s Group, Jetport Inc. (the Joyce Family), Meridian Credit Union, Fengate Capital and Paletta International.
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