City living inspired by the loft apartments of New York City could become a reality for Hamilton as early as next year.

A derelict, 100-year-old building on Burnaby Street is earmarked for an ambitious make-over that will transform it into four one-bedroom city lofts, topped by a two-bedroom penthouse suite, and with two retail outlets at street-level.

Timothy Marshall, of Marshallworx, is the man behind the project. He believes the time is right for city centre living to be stepped up in Bermuda.

“We are putting residential residences into the centre of Hamilton. People will live here and have all the amenities of the city. Hopefully this concept will take off,” he said.

“I believe the next generation, who are going off to schools in large cities such as Boston, New York, London and Toronto, will understand and embrace the concept of city living and will hopefully want to experience that in Bermuda.”

The Arcade building, which dates back to 1910, has been vacant for the past two decades. Rather than demolish the three-storey property and erect a new building, Mr Marshall intends to preserve as much of the original structure as he can, including the distinctive facade.

“The objective is to maintain the charm and history of the building, while introducing all the modern conveniences.

“Some people would say pull it down. I say it is part of our history, let’s make it beautiful again.

“One of the things Hamilton has lost is our history. If this building can be saved it is a win-win for the Island.”

The Arcade is midway between Church and Reid Street. In the early 1900s it was home to a grocery business, a shoe shop and a photography studio.

Mr Marshall has experience of invigorating old buildings. He did much of the initial design work for the stylish revamp of the office space occupied by law firm Marshall Diel & Myers, where he is a consultant, on the corner of Burnaby Street and Reid Street.

“I love restoration; preserving the old and making it functional,” he said, adding that he has been assisted by experienced city lofts designer and architect Jacob Hocking, of CTX Design Group.

The architecture of Lower Manhattan’s Soho neighbourhood is the inspiration for the proposed reimaging of The Arcade. Plans will be submitted in the coming weeks, and if approved it is anticipated the city lofts could be completed some time next year.

On the ground floor there is space for two commercial outlets, each approximately 1,200 sq ft. Between these units will be a private entrance, with a stairwell and elevator for residents of the city lofts to access the upper floors.

The four residential loft units will be 1,155 sq ft each, while the penthouse will boast 1,740 sq ft of living space and a 740 sq ft outside patio area.

Mr Marshall said the city lofts would represent the “high end” of residential accommodation, and have a New York feel.

He hopes to save and restore as much of the interior features as he can.

Asked why he had chosen The Arcade for the project, he said: “It was just around the corner and I have always admired its facade.”

Even though plans for the redevelopment have yet to be submitted for approval, there have already been enquiries about the proposed units.

“There has been interest in the lofts and the retail units. My philosophy is that if you build something beautiful and well designed, people will want to live in them,” said Mr Marshall.

“It’s not the traditional way of living in Bermuda, but we have to expand to living in the city.”

He added: “I love Bermuda and this is my way of giving something back. Hopefully it will be well received and be something that others will do. I believe city living will flourish in Bermuda.”