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Textile studio is moving into Felton Brush building, under its partnership with Aeon Studio Group, in what is shaping up to be the Bayfront Studio District, writes Jeff Mahoney
By Jeff Mahoney, Spectator Reporter
Mon., July 4, 2022
Hardly half a year after opening a brand new digital studio on James North — it still has that new studio smell — Centre[3] is moving its textile studio into the stately old Felton Brush industrial building on Harriet Street.
The area’s largest transaction was in Hamilton at 970 Upper Wentworth St. Everest purchased the 79,000 sq. ft retail plaza for $26 million ($329/sq. ft). It illustrates a high price-per-square-foot for retail that was more commonplace pre-pandemic.
970 Upper Wentworth St. is across from the Lime Ridge Mall, which made the news recently thanks to Cadillac Fairview‘s proposal to demolish the former Sears building and replace it with two 12-storey residential towers.
It’s great to see retail continuing its comeback in 2022.
The region’s second-largest purchase was in Waterloo, where Lexington Park Real Estate Capital purchased a 31,800 sq. ft industrial building at 80 Lodge St. for $12.5 million ($393/sq. ft). That’s an absolutely massive valuation for industrial.
In the news, Slate plans to break ground on Corktown condo highrises in 2023; the OLT approved 25 storeys for Vrancor‘s residential project at 354 King St. W.; and DeSantis is planning luxury condos in rural Winona.
The week saw below-average transaction levels. However, it’s typical to see regressed transaction levels right after the beginning and end of the month.
In Hamilton, the largest transaction was Fengate Asset Management‘s purchase of a house on 2.25 acres for $2 million ($888,889/acre). The property is adjacent to the 75 acres of airport land Fengate purchased in April 2021. This new purchase provides them with street front access to Airport Rd.
The week’s largest purchase in the area was in Waterloo, where IN8 Developments purchased an office building for $9 million ($169/sqft). It’s an interesting purchase because IN8 Developments is known mainly for residential developments. As an office acquisition (as opposed to residential), the dollar value per square foot is low. It could indicate some vacancy, high capital expenditures or softening office values.
Recently, office transactions are becoming more frequent, however, not all office transactions are at peak values. In any case, it’s great to see demand increasing to pre-pandemic levels.
In the news, the American venue group OVG will take on their first Canadian project with the renovation of Hamilton’s FirstOntario Centre (formerly Copps Coliseum); Hamilton City Council and Vrancor have reached a deal for 354 King St. W.; and in downtown Hamilton, a three-alarm blaze levelled a 1920s-era building slated for redevelopment.
Through the Canadian crowdfunding platform FrontFundr, you can co-own Canada’s most exciting startups and build a diverse portfolio of growth and venture-backed businesses. VISIT FRONTFUNDR TODAY AND GROW YOUR WEALTH
Soaring real estate prices have locked many Canadians out of the market — and the wealth gains that come with ownership.
“For too long, real estate has been behind closed doors and not accessible to everyone,” says Joe Accardi, Partner & CEO of Forge & Foster. “We want to bring real estate to all Canadians, and FrontFundr is something that we’re really excited about.”
WHAT IS FRONTFUNDR?
FrontFundr is Canada’s leading online private markets investing platform and an exempt market dealer.
Founded in Vancouver in 2013, the startup’s mission is to democratize the private sector investment model by offering companies an alternative to venture and private equity investing.
FrontFundr provides investors with the opportunity to invest in startups and growth companies. Their online platform allows all Canadians — from professionals to first-time investors —to support the ideas and initiatives they want to see succeed.
The company has built up a community of over 34,000 users, run over 100 successful funding campaigns, and helped businesses raise more than $120 million so far.
“You might think you can only invest in Wealthsimple and public stocks, but you can also invest in early stage companies from the very beginning.”
“We’re missionaries to spread the word around equity crowdfunding, in general,” says Peter-Paul Van Hoeken, the founder and CEO of Silver Maple Ventures, FrontFundr’s parent company. “Creating awareness has been a huge job for our company in the last five years. You might think you can only invest in Wealthsimple and public stocks, but you can also invest in early stage companies from the very beginning.”
The popular destination boasts quaint cabins, RV rentals, and sites for tents and RVs. However, there is plenty of opportunity for improvement and expansion.
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.
“Never before have people had the opportunity to invest in spectacular real estate like this, starting at just $1,000.”
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.”
WHY FRONTFUNDR?
Here are the main benefits of investing in real estate through FrontFundr:
No fees
Pride of ownership
No need to qualify for a mortgage
No down payment required
None of the pain of managing a property
No closing costs
No need to find tenants or maintain the property
You’ll get a share of rent and gains on the property when it’s sold
You’ll receive ongoing oversight and support
Every investment project undergoes a detailed due diligence process
“Join FrontFundr. Take a look at their projects. You can invest in a project that you’re excited about,” says Accardi.
⭐⭐⭐⭐⭐ Great platform to invest in early stage enterprise The investment process was straightforward and well explained. —Jean-Philippe Deblois, Trust Pilot
⭐⭐⭐⭐⭐ Great platform that is intuitive and easy to use! Good access to detailed prospectus and pitch info. The digital signing process is simple and efficient. Private company investing has never been this easy or accessible. — Ken Smith, Trust Pilot
⭐⭐⭐⭐⭐ I feel fully confident that I am making sound investment decisions for myself. FrontFundr is an essential platform to democratize investing into early stage companies that have huge potential to add value. — Leon Lie, Trust Pilot
WHAT ARE THE EXPERTS SAYING?
“Small investments in multiple projects add up over time. That makes it appealing for young people who want to get in the habit of investing.”
“I feel that real estate crowdfunding can be a viable tool for those who want to invest in real estate but are restricted due to a lack of money or credit,” says Mark Ting, CBC’s finance columnist. “Small investments in multiple projects add up over time. That makes it appealing for young people who want to get in the habit of investing.”
“A crowdfunded model comes with transparency and tangibility,” Tina Tehranchian, an Assante Capital Management Ltd. senior wealth adviser told the Globe and Mail. “You can drive by the property and boast to your friends that you have a share of ownership of this property.”
A plan to create a film studio hub on city-owned lands at Hamilton’s west harbour has added a cast member.
TAS — a Toronto-based firm that focuses on mixed-use projects and commercial community hubs — is to lead the proposed redevelopment of the roughly 14 acres of barren land between the CN rail yard, Queen, Tiffany and Barton streets.
Meanwhile, Aeon Studio Group, which already has a production studio on Queen near the city-owned parcels, is “thrilled” to have TAS aboard, partner Jeff Anders said.
The consortium, which aims to turn the properties into a mixed-use creative arts and residential district anchored by film and television production studios, also includes Forge and Foster, a local real estate investment firm.
In February, Aeon opened its Bayfront Studios in an 80,000-square-foot former manufacturing building at 243 Queen St. N., across from the city-owned lands eyed for the mixed-used development.
The Bank of Canada is attempting to convince people it’s serious about decreasing inflation, which reached 6.9 per cent last month – the highest rate in 31 years.
Steve McLean, RENX, June 8, 2022
CIBC managing director and deputy chief economist Benjamin Tal told an audience at the June 7 Land & Development conference at the Metro Toronto Convention Centre, however, that rising interest rates should be at least as big a concern.
The Bank of Canada increased its policy interest rate by half a percentage point on June 1 to 1.5 per cent as part of its effort to get the inflation rate back to its two per cent target.
Plans to include a residential development in the transformation of Hamilton’s Limeridge Mall are officially in motion.
Ken Mann, 900 CHML, June 8, 2022
Cadillac Fairview’s proposal, which goes before the city’s design review panel on Thursday, is for 320 units within a pair of 12-storey towers on the site of the former Sears store. READ MORE >>
This week witnessed slightly below-average transaction levels.
In Hamilton, the largest transaction was for a retail plaza located across from Westdale Secondary School. The retail and office property sold to Westdale Properties for $14,850,000 ($277/sqft). It’s a decent price considering the large office exposure.
Kitchener-Waterloo witnessed two massive transactions. The largest was for 52 acres of industrial land in Cambridge. This property was purchased by Fengate Asset Management for $91,320,000 ($1,750,000/acre). It’s an absolutely massive value for industrial land. It seems there’s no limit in sight.
You’ll find out the meaning behind some of Hamilton’s most beautiful street art and hear stories about the transformation of local buildings and businesses along the way.
The tour starts at One West Avenue S. It’s a Forge & Foster building adorned with the famous ‘Raise’ mural by Lester and Norman Coloma.
Your guides will lead you to locations around downtown. Bring water and wear comfy shoes. Register now before space fills up.
Admission is free but a donation to the Hamilton Community Fridge is welcomed.
Since 2017, over $733 million in residential and commercial building permits were issued in the city’s core.
By Paul Morse, The Hamilton Spectator, Wed., June 1, 2022
The smiles on the faces of Judy Lam and Norm Schleehahn gave the glorious sunshine a run for its money on May 12 as the city’s two top downtown revitalization leaders stood beside Hamilton’s Gore Park fountain and turned slowly to take in the nearby forest of building cranes reaching into the sky.
“Last year was the highest number of residential unit building permits downtown ever,” Schleehahn, the city’s director of economic development, said. “The developers have really seized an opportunity.” In fact, 2021 hit a record $2 billion in building permits across all of Hamilton, he said.
He and Lam, the city’s manager for commercial districts and small business, are helping to usher in an unprecedented highrise building boom that’s transforming Hamilton’s downtown from a commercial real estate dead zone a little more than a decade ago to today’s construction bonanza.
Slate Asset Management has closed on the acquisition of approximately 800 acres of industrial development land and buildings from Stelco Inc. in Hamilton. The firm said it plans to develop up to 12 million square feet of new industrial on the lands, which is already zoned for a wide range of uses.
The industrial park could create up to 23,000 new jobs across the Greater Toronto and Hamilton area, and inject up to $3.8 billion into the economy according to an economic study conducted by Ernst & Young.
The sale closed this morning, although local media reports disclosed several months ago Slate would become the new owner. Financial details were not immediately disclosed.
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