The province is committing $7 million to help redevelop Hamilton's most notorious eyesore.
Construction on the Lister Block will start as soon as council inks a long-term lease to become the anchor tenant at the heritage building at the corner of James and King William streets.
The funding, despite its convenient timing, isn't dependent on the Liberals being re-elected in October. It will be used to lower the city's leasing costs of about $40 million over 20 years.
Tim McCabe, the city's head of economic development and planning, said he expects the lease will be formalized by the fall.
The province intervened in the Lister Block a year ago at the request of Councillor Brian McHattie, who objected to the original plan to tear down the heritage building.
Yesterday's funding announcement was vindication for McHattie, who was widely criticized for his call for help. Without his intervention, the city wouldn't have the province's help now, noted McCabe. Source...