“Every city needs an icon,” Stinson said Wednesday as he revealed drawings of what would become Canada’s tallest occupied building.

The L-shaped Connaught Tower would rise to a sharp and dramatic point 1,000 feet over downtown Hamilton — making it more than twice the height of the Niagara Escarpment, and dwarfing downtown’s current giant, the Century 21 tower virtually across the street.

But before he can build the tower at the southeast corner of the Connaught Hotel property — now a parking lot — he plans to refit the historic hotel, turning it into a hybrid hotel operation and condominium residence, with amenities that include a lavish lobby bar, grand ballrooms, a 24-hour coffee shop and a 24-hour grocery store.

Construction of the entire complex would cost about $180 million, the developer said, and would have an ultimate retail value of about $350 million. Most or all of the money would be raised privately.

Stinson has purchased the Connaught for $9.5 million in a deal that closes June 30. Before then, he is planning to open a sales office to begin selling about 300 condo units in the upper floors of the historic hotel building, which would range from $200,000 to $300,000, he said. More...