Lister Block Rehabilitation Moves Forward

After more than 18 years sitting vacant, the rehabilitation of the Lister building is proceeding with completion by March 2012. Earlier this week, the Labourers International Union of North America (LIUNA) agreed to City Council’s offer to purchase the historic landmark.

"I am pleased the Lister rehabilitation is moving forward," said Mayor Eisenberger. “I think it's a very positive step. It's good for the city."
 
The newly signed agreement is significantly improved from the original deal put forward in 2005. Key improvements of the new agreement are:

•   the city will own the building which will save millions of dollars in lease costs

•   a significant heritage building will be preserved

•   the city will own an asset which will increase in value over time

•   after 20 years, the city could choose to sell the building to recover its costs, or continue ownership which would eliminate the cost of leasing space elsewhere

•   unlike the previous deal, an independent assessment has verified value to the taxpayer

•   the Province of Ontario is now a financial partner in the redevelopment – a commitment the province made to the City in June 2007

•   a project manager and Heritage Consultant will be hired to oversee aspects of the project

•   new developments agreed to by LIUNA and Hi-Rise will generate new taxes and will help revitalize the broader downtown area

To read more about the rehabilitation of the Lister, visit the following:

July 2, 2008: Determination revives Lister deal

July 2, 2008: Hamilton has a new way to spell relief

July 1, 2008: Mayor Saved Lister Deal: LIUNA

Photo Credits: Special thanks to Michael W. Hrysko (a local photographer and facebook member) for the Lister photographs.

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