601 BARTON STREET EAST, HAMILTON
HISTORIC GIBSON SCHOOL PLANNED AS A RESIDENTIAL CONVERSION
04 ABOUT THE OFFERING
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10 INTERIOR PHOTOS
contents of table
PROPERTY INFORMATION
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PLANNING & LAND USE
NEARBY AMENITIES
OFFERING PROCESS
Downtown Hamilton
offering aboutTHE
Hamilton General Hospital
Shoppers Drug Mart
Cathedral High School
Norman Pinky Lewis Recreation Centre
Woodlands Park
On behalf of GlassRatner Restructuring Inc. .as Court-Appointed Receiver and not in its personal capacity, CBRE’s Land Services Group is pleased to offer for sale the Gibson School (the “Building”), a unique residential conversion project located at 601 Barton Street East, in Hamilton (known as the “Site”, “Property” or “Project”). The Gibson School is a Property of Cultural Heritage value with the main portion of the building being constructed in 1914 and operating as a school until 2009. There was an addition made to southern portion of the building in 1963 with the construction of a gymnasium and an administrative wing. The building contains a gross floor area (GFA) of ±37,100 sq. ft. with a basement containing an additional ±15,900 sq. ft. situated on 1.22 acres of land. The Site was planned as a conversion project where the existing school would be converted into 47 loft-style units ranging in size from 500 sq. ft. to 1,400 sq. ft. consisting of studio, one-bedroom, two-bedroom, and live/work or townhouse style units. The Project was planned to incorporate the existing historical elements of the school including the original floors and brick walls throughout the building. All parking for the Project was planned to be provided at-grade through the use of the existing school yard and a new parking lot at the southwest corner of the Site. The conversion of the school has commenced with the removal of all interior school fixturing including the drop-ceilings and plaster from the brick walls. Other work that has commenced includes the installation of new windows, interior framing and the strengthening of the roof. The Property represents a rarely offered conversion project where construction has begun allowing a purchaser to continue with the planned conversion project or pivot towards an alternative use.
Powell Park
601
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RENOVATIONS COMMENCED
Construction within the school has commenced with the original brick walls being exposed, new windows installed and interior framing in progress. The original drop-ceilings and vinyl floors were removed to expose original flooring and ceiling heights ranging from 11 to 16 ft. throughout the building.
highlights investment
EXISTING CONDITIONS The Project has reached a stage where all interior fixturing has been removed. This allows a purchaser to proceed with the originally planned conversion project or pivot towards an alternative use.
MULTIPLE FRONTAGES
The Site occupies two prominent corners along Barton Street East, providing exceptional exposure. This enhances the Property’s frontage with a combined total of approximately 677 ft. along Barton Street East, Gibson Avenue, and Birch Avenue.
LANDMARK GIBSON SCHOOL Built in 1914, the Gibson School was designated as a Property of Cultural Heritage Value in 2016. The school serves as a landmark building within the Gibson community having been around for over 100 years and operating as a school until 2009.
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information property
BARTON ST E
PROPOSED ACCESS POINT
PIN: 171940347
HERITAGE CONSIDERATIONS: The Building is designated as being of cultural heritage value or interest. PARKING: All parking was proposed at-grade with 35 spaces within the existing parking lot and an additional 5 spaces to be constructed at the southwest corner of the Site. ACCESS: Access to the Site is currently provided from Gibson Avenue. An additional access point was planned to be provided from Birch Avenue. GEOTECHNICAL: A Geotechnical investigation letter was completed on October 22, 2014 by Soil-Mat Engineers & Consultants Ltd. CONSTRUCTION STATUS: Renovations within the Building have commenced. All previously installed school fixturing has been removed including the drop ceilings and plastered walls. Additionally, new windows were installed, and interior framing has commenced.
TOTAL SITE AREA: 1.22 acres
BUILDING GFA: ±37,100 sq. ft. with a basement containing an additional ±15,900 sq. ft. FRONTAGE: 139.89 ft. along Barton Street East, 268.73 ft. along Birch Avenue, and 268.21 ft. along Gibson Avenue. OFFICIAL PLAN: The Site is designated Mixed Use – Medium Density and Neighbourhoods within the Urban Hamilton Official Plan. ZONING: The Property is zoned E/S-1724 as per the City of Hamilton Zoning By-law 9563.
CURRENT ACCESS POINT
EXISTING CONDITIONS: The Property is currently under renovation within the Building.
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photos interior
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STATUS: The Site received zoning approval in August 2015 through By- law No. 15-184 by amending By-law No. 6593. The amendment rezoned the Site to “E/S-1724” (Multiple Dwellings, Lodges, Clubs, Etc.) that also included several special provisions. The special provisions pertain to but are not limited to parking requirements, permitted commercial space and definitions for the live/work units. The Property was designated as a Property of Cultural Heritage Value in December 2016 through By-law No. 16-334. The heritage attributes of the Property include many features pertaining to the original section of the school built in 1914. Heritage Attributes of the Gibson School include the brick construction, interior iron staircases and the rectangular window openings, among others. A Site Plan Application for the Property was conditionally approved in 2019. However, the understanding is that the application has lapsed.
DEVELOPMENT SUMMARY: The Site offers a partially built conversion project whereby the heritage designated Gibson School was planned to be converted into a residential condominium project containing 47 units. Within the original section of the school built in 1914, the site plan proposed converting the former classrooms and common areas into 42 loft-style units with ceiling heights ranging from 11 to 16 ft. The remaining five units were planned to be two-storey townhouse style or live-work units through a conversion of the school gymnasium, an addition constructed in 1963. The above grade GFA of the Building is ±37,100 sq. ft., distributed across two storeys, with a basement containing an additional ±15,900 sq. ft. Amenity space was planned to be provided on the ground floor by way of a café and lounge that included an outdoor patio. Parking for the Project was planned be provided at-grade through the conversion of the existing school yard and a new parking lot at the southwest corner of the Site. Within the originally proposed site plan, the existing school yard was planned to contain 35 parking spaces, and an additional 5 spaces would be provided by a new parking lot on site. & land use planning summary
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CONCEPTUAL UNIT BREAKDOWN
Size Range (sq. ft.)
Unit Type
# of Units
Studio
5
500-700
One-Bedroom
26
650-1,200
One-Bedroom plus Den
4
900
Two-Bedroom
7
1,100-1,400
Two Floor Townhouse Style or Live/Work Units
5
1,175
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amenities nearby
INSTITUTIONAL
RECREATIONAL
RETAIL
1. Jackson Square 2. NoFrills 3. FreshCo 4. Food Basics 5. Walmart Supercentre 6. Metro 7. Canadian Tire
1. Powell Park 2. Norman Pinky Lewis Recreation Centre 3. Hamilton Stadium 4. Woodlands Park 5. Bernie Morelli Recreation Centre 6. Bennetto Community Centre 7. Hamilton Harbour Waterfront Trail
1. Cathy Wever Elementary School 2. St. Ann Catholic Elementary School 3. Cathedral High School 4. Hamilton General Hospital 5. St. Joseph’s Healthcare Hamilton 6. Dr. J.E Davey Elementary School 7. St. Lawrence Catholic Elementary School
WEST HARBOR
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HAMILTON
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Mike Czestochowski** Vice Chairman +1 416 495 6257 mike.czestochowski@cbre.com Lauren White* Executive Vice President +1 416 495 6223 lauren.white@cbre.com Evan Stewart* Senior Sales Associate +1 416 495 6205 evan.stewart@cbre.com Emelie Rowe* Senior Sales Associate +1 416 495 6306 emelie.rowe@cbre.com Nicholas Webster Sales Representative +1 416 495 6271 nicholas.webster@cbre.com
601 BARTON STREET EAST, HAMILTON
CBRE’s Land Services Group has been retained as the advisor to seek offers for the disposition of the Property. Interested purchasers will be required to execute and submit a Confidentiality Agreement (“CA”) prior to receiving additional due diligence materials. For more information on the offering process please reach out to one of the agents listed. Confidentiality Agreement Potential purchasers that require access to the data room must complete a CA and return it to: lsggta@cbre.com
CLICK TO SIGN CA
MLS: X13842442 & X13842434
All outlines are approximate. | www.cbre.ca/mclsg | CBRE Limited, Brokerage, 2005 Sheppard Ave E, Suite 800, Toronto, ON M2J 5B4 This disclaimer shall apply to CBRE Limited, Real Estate Brokerage, and to all other divisions of the Corporation; to include all employees and independent contractors (“CBRE”). The information set out herein, including, without limitation, any projections, images, opinions, assumptions and estimates obtained from third parties (the “Information”) has not been verified by CBRE, and CBRE does not represent, warrant or guarantee the accuracy, correctness and completeness of the Information. CBRE does not accept or assume any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from CBRE. CBRE and the CBRE logo are the service marks of CBRE Limited and/or its affiliated or related companies in other countries. All other marks displayed on this document are the property of their respective owners. All Rights Reserved. Mapping Sources: Canadian Mapping Services canadamapping@ cbre.com; MapPoint, DMTI Spatial, Environics Analytics, Microsoft Bing, Google Earth. *Sales Representative **Broker
ASKING PRICE: $6,500,000 | OFFERS TO BE REVIEWED AS RECEIVED
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