pool, full gymnasium, a recreational roof terrace, gourmet shops and more, has received final planning approval.

Ocean Winds Limited have received the green light from the Development Applications Board to go ahead with the upscale residential building which will offer 76 one-bedroom apartments for sale.

While the cost for a unit has not been made public, one local realtor said the units could fetch as much as $500,000 each.

"If this building is going to cater the high-end of the market with all the modern conveniences then I could see them possibly going for as much as $450,000 to $500,000,'' the realtor said.

"Really there is nothing to compare it to at all in the market. This will be the first of its kind. The only other units which might be comparable are the three units at the top of Chatham House and those rent for over $4,000 a month and are absolutely beautiful.'' The new apartment building will be constructed between Victoria and Dundonald Streets with the entrance on Parliament Street. A completion date has not been released.

The new development ties in well with recommendations in the recently released City of Hamilton Plan to encourage people to live in the city itself.

City planners have said that such a shift would help alleviate rush hour traffic and bring more life to the city, especially in the evenings and at holidays.

Sources have said that developers of the new luxury building "have gone overboard'' in trying to ensure that it meets and even surpasses expectations as it will be "setting the standard'' for future developments.

PLANNING PLN