DiCenzo Homes proposes a 12-storey residential tower on Hamilton Mountain
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Author: Jessica Wright
Alex Manojlovich’s Weekly Market Report: Hamilton Council approves 1,341-unit condo development
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Hamilton’s Highest Value Development Projects for 2022 (so far)
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Alex Manojlovich’s Weekly Market Report: LiUNA files two non-decision appeals to OLT
The week’s most significant transaction was for this 65-acre vacant industrial site at 212 Glover Rd. in Hamilton.
This week witnessed a decent volume of deals, with Hamilton being the top performer for the second consecutive week.
The volume of transactions continues to be steady since the Bank of Canada increased its rate by 1.00% to 2.50% on July 13.
This week’s largest transaction occurred in Hamilton, where IKEA Properties purchased a 65-acre vacant industrial site at 212 Glover Rd. for $82 million (approximately $1.25 million/acre). This looks to be a good price, as the cost of industrial land in Hamilton is rising quickly. Specifically, this industrial land node close to Nebo Rd. has witnessed land transactions of $1.5 million for smaller parcels. Also of note is the neighbouring industrial land at 190 Glover Rd., which was purchased by RFA Capital for approximately $6 million ($1.2 million/acre).
This week’s second-largest transaction occurred in Kitchener, where Fusion Homes purchased 6.9 acres of residential land for $3.2 million/acre.
In the news, LiUNA has filed two non-decision appeals to the OLT, Metrolinx has released a video previewing how the LRT will be constructed, and the Toronto rental market is tightening.
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Alex Manojlovich’s Weekly Market Report: Hamilton LRT construction to begin in 2024
The largest transaction in Hamilton this week was for this office building at 630 Main St. E.
This week witnessed a decent volume of deals. Hamilton was the top performer, while Brantford was a rare no-show.
The volume of transactions has been objectively healthy so far. However, it will be interesting to monitor the ripple effects caused by the Bank of Canada‘s latest rate increase.
This week, the area’s largest transaction was for an unaddressed property on Dobbie Dr. in Cambridge. The vacant industrial land parcel sold for $5.64 million (approximately $1 million/acre).
The largest transaction in Hamilton was for an office building at 630 Main St. E., which traded for $4.7 million ($243/ sq.ft). It’s a good price considering the asset class and location.
In the news, the Hamilton LRT process is underway, there are updates on several Hamilton development projects, GHA residential rental rates are rising quickly, and Toronto is increasing development charges by 46%.
The GHA Sales Transaction Database offers you this week’s CRE transaction activity.
News Headlines
Procurement process for LRT to start later this year, construction in 2024
CBC News, July 18, 2022
Two LiUNA towers to remake Hamilton skyline
Daily Commercial News, July 18, 2022
Condo development flattened by fire will go ahead as planned
The Hamilton Spectator, July 19, 2022
Winona builder appeals towering LiUNA Gardens plan to OLT
The Hamilton Spectator, July 18, 2022
New Horizon Development Group’s Stoney Creek tower plan headed to OLT
The Hamilton Spectator, July 19, 2022
Two-way Main St conversion part of Hamilton LRT design talks
The Hamilton Spectator, July 19, 2022
Barton St. parking lot could become vibrant residential infill
The Bay Observer, July 21, 2022
Mayor backs museum at waterfront
The Hamilton Spectator, July 20, 2022
Evolving Workforces: Scoring Tech Talent 2022 — North American Report
CBRE, July 2022
GTA condo rents climb at fastest pace on record
BNN Bloomberg, July 19, 2022
Toronto condo sellers turn to rental market
The Globe & Mail, July 20, 2022
Toronto council hikes development charges 46%
The Globe & Mail, July 19, 2022
BMO: BoC’s 1% point rate hike, a hammer to housing market
The Globe & Mail, July 18, 2022
Canada’s inflation rate hits 8.1%, but signs suggest peak is near
The Globe & Mail, July 20, 2022
Canadian CRE transaction value hit $23.8B in Q1
Commercial real estate investment in Canada is experiencing a major resurgence in confidence, with an Altus Group report chronicling $23.8 billion in Q1 transaction activity.
The real estate analytics and research company said that figure, transacted across all major asset classes in Canada during Q1 2022, is a 52% hike from Q1 2021. Deal volume was up across all major asset classes with the exception of hotel transactions.
Just over 3,250 transactions were completed in the first quarter of 2022, a 25% increase compared with the same period of 2021.
Alex Manojlovich’s Weekly Market Report: Exodus of Toronto suburbs driving Hamilton growth
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Tenant Profile: Reach Gymnastics Club
Meet Chauntelle and let her introduce you to Reach Gymnastics Club — now with a second location in Brantford in the Brantford Cordage Heritage District at 111 Sherwood Dr., Unit 10.
Reach offers:
– recreational and advanced gymnastics classes
– tumbling classes
– private lessons
– birthday parties
– summer camps
– and more!
Forge & Foster is delighted to welcome great tenants like Reach Gymnastics Club, which has offered Brantford’s best recreational gymnastics since 2017.
Plage Saint-Pierre Beach & Campground announces equity crowdfunding investment opportunity through FrontFundr
Plage Saint-Pierre Beach & Campground, a vacation destination in Cheticamp, Nova Scotia, announced today that it has launched an equity investment round through FrontFundr, Canada’s leading crowdfunding platform.
Now everyone has the opportunity to build their wealth by investing to become a co-owner of oceanfront real estate, starting at just $1,000.
Situated at the gateway of the world-famous Cape Breton Highlands National Park and just off the Cabot Trail, this real estate investment property is packed with potential. And Forge & Foster is ready to unlock that potential through its unparalleled expertise in real estate management.
The Plage Saint-Pierre Beach & Campground boasts 2,500 feet of sandy beach, quaint cabins, RV rentals, and sites for tents and RVs. However, there is plenty of opportunity for improvement and expansion.
Joe Accardi, Partner and CEO at Forge & Foster Investment Management, said, “This is a very special opportunity for investors and we’re excited to offer it through our trusted partner, FrontFundr. Never before have people had the opportunity to invest in spectacular real estate like this, starting at just $1,000.”
Plage Saint-Pierre is a picturesque holiday getaway with pristine night sky views of the Milky Way. Eagles, whales, salmon, moose, red fox, and seals enjoy this tranquil, pastoral setting with calm salty winds, ever-changing seas, ocean mist and stunning sunsets. Visitors can gather wild blueberries and strawberries or set off kayaking, paddle boarding, hiking, or cycling.
The nearby Cabot Cape Breton Golf Club is a popular destination. The acclaimed course is nestled between the Gulf of St. Lawrence and the majestic Cape Breton Highlands.
At Plage Saint-Pierre, you’re minutes from the Gypsum Mine Trail and the lively Accadian village of Chéticamp, where you can dine on fresh seafood.
The crowdfunding campaign runs through to September 7, but shares are selling out fast, so don’t delay — invest today!
Plage Saint-Pierre Beach & Campground is currently raising $595,000. Details of the offering can be found at frontfundr.com/forgeandfoster. This communication is for informational purposes only.<
To book a stay at Plage Saint-Pierre Beach Campground, visit plagestpierre.com or contact plagesaintpierre@gmail.com or (902) 224-2112.
Alex Manojlovich’s Weekly Market Report: Emblem Launches Largest Downtown Hamilton Condo Project
This week witnessed some great action.
The retail asset class continues its return to consistency with a few smaller deals this week.
The largest transaction in Hamilton this week was for 250 Fruitland Rd. in Stoney Creek. This 19.64-acre piece of land sold for $23.562 million (approximately $1.2 million/acre). This is below market value for residential land. However, the parcel appears to be zoned agricultural currently.
Nearby, developer Melrose Investments purchased 4.44 acres for $900,000 ($202,000/acre), which is great value but probably includes more work than the Fruitland Rd. deal.
The largest transaction in the area occurred in Cambridge, where Argyle Capital Partners purchased a 200,000 sq. ft industrial building for $33 million ($165/sq. ft). It’s a slightly large purchase price given the market and size of the asset, but I wouldn’t be surprised if this were fair market value given the way industrial demand and industrial market lease rates continue to grow.
In the news, Emblem launches Hamilton’s largest downtown project, the COA moves forward with a 109-unit development project on Dundurn St., and the website has been launched for the 75 James Condo development by LiUNA.
The GHA Sales Transaction Database offers you this week’s CRE transaction activity.
News Headlines
Emblem launches largest downtown Hamilton condo project
RENX, June 27, 2022
75 James Condominiums official website
2022
Minor Variance re: 330 Dundurn St. S. eight-storey residential project
City of Hamilton Committee of Adjustment
New pocket track expands West Harbour GO train service
In The Hammer, June 28, 2022
Centre[3] expands into Forge & Foster’s 29 Harriet St. in the Bayfront Studio District
The Hamilton Spectator, July 4, 2022
Feds turnover Burlington Canal piers to HOPA for pedestrian use
Global News, June 28, 2022
June 2022 Rent Report
Rentals.ca
Blackstone sees opportunities in student housing, multi-family, life sciences and more
The Hamilton Spectator, June 29, 2022
London, ON to cut parking requirements
CBC News, June 24, 2022
Now You Can Co-own A Nova Scotia Beach Destination With A Crowdfunded Real Estate Investment
We present the opportunity to invest in Plage Saint-Pierre Beach & Campground, an oceanfront property in Chéticamp, Nova Scotia with a targeted Investor IRR of 44.3% over the 2-year project period and a 2.1x equity multiple.
The property sits on 67 acres with 2,500 feet of private sandy beach on one of Nova Scotia’s warmest bays.
This property has a strong existing cash flow and upside through various initiatives. Plage Saint-Pierre boasts 90 seasonal sites, 66 overnight sites, eight trailers, one one-bedroom chalet and one two-bedroom chalet.
Situated at the gateway of the world-famous Cape Breton Highlands National Park and just off the Cabot Trail, this real estate investment property is packed with potential. And Forge & Foster is ready to unlock that potential through its unparalleled expertise in real estate management.
The Plage Saint-Pierre Beach & Campground boasts quaint cabins, RV rentals, and sites for tents and RVs. However, there is plenty of opportunity for improvement and expansion.
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