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DiCenzo Homes has proposed a 12-storey, 165-unit residential tower at 639 Rymal Rd. in Hamilton.

DiCenzo Homes proposes a 12-storey residential tower on Hamilton Mountain

It’s great to see that over the last two weeks, we’ve continued to see good deal flow, despite interest rates tightening activity to some extent.

This week’s largest transaction took place in Grimsby, where Anatolia Group purchased 35.3 acres of vacant industrial land for $56.3 million (nearly $1.6 million/acre).

The price of Hamilton industrial land continues to escalate.

Other notable transactions include:

  1. downtown corner property at 150 Main St. E. was purchased for $6.1 million ($9.5 million/acre), which is comparable to high-density residential land values.
  2. Granite REIT purchased 10 acres of residential land in Brantford for $6.3 million (nearly $630,000/acre).

It’s also great to see that multiple office transactions have taken place over the last two weeks, with the majority being medical-related.

In the news,

  • DiCenzo Homes has proposed a 12-storey residential tower.
  • Hamilton Council rejected a plan to exempt part of Ancaster from housing intensification.
  • The national industrial vacancy rate hit a record low of 1.6%.
The GHA Sales Transaction Database offers you this week’s CRE transaction activity.
News Headlines

Hamilton Design Review Panel: 639 Rymal Rd. W.
August 2022

253 King William development to lease units for as little as $85/month
Fast Company, August 19, 2022

Council rejects plant to exempt part of Ancaster from housing intensification
The Hamilton Spectator, August 16, 2020

Leap of faith: Hamilton church converted into apartments
The Hamilton Spectator, August 23, 2020

Evolving Workforces: Toronto Lab Market H1 2022 Report — A Nascent Real Estate Market On The Rise
CBRE Research, August 2022

Councillors approve townhouse development on Rymal Rd
The Hamilton Spectator, August 16, 2020

Last Stelco blast furnace demolished on Hamilton bayfront
The Hamilton Spectator, August 17, 2020

New Vision church needs $3.9M to transform into 1,000 seat music venue
CBC News, August 22, 2022

New Hamilton census data 
The Hamilton Spectator, August 24, 2022

How Hamilton, Burlington have changed since last census
The Hamilton Spectator, August 24, 2022

Hamilton’s Beasley Park to receive project funding
CBC News, August 27, 2022

Granite kicks off Brantford business park
RENX, August 19, 2022

Waterloo’s sky-rocketing rental prices show no signs of slowing
The Record, August 24, 2022

Niagara needs 32,000 homes over next decade
The St. Catharines Standard, August 22, 2022

Toronto area CRE deals total $7B, up 43% y/y
The Toronto Star, August 18, 2022

Ontario’s 1.5M homes by 2031 not likely 
The CBC News, August 16, 2022

National industrial vacancy rate hits record low of 1.6%
The Globe & Mail, August 22, 2022

Alex Manojlovich

Greater Hamilton Real Estate Update: Downtown Hamilton’s Major Redevelopment Is In The Works

It’s been a quiet week for commercial real estate (CRE) transactions in Hamilton.  February is turning out to be a low as a whole.

Hamilton’s most significant transaction was in Ancaster, where industrial commercial institutional (ICI) land traded for $7.6 million ($905,000 per acre). Hamilton’s industrial land values continue to rise.

The largest transaction of the week was in Kitchener, where Broccolini traded $23 million for 69 acres of ICI land.

In the News Headlines section below, you’ll find:

  • The latest on downtown Hamilton projects
  • Updates on the flurry of activity around John C. Munro Hamilton International Airport
  • The February stats from the REALTORS® Association of Hamilton-Burlington (RAHB)
The GHA Sales Transaction Database offers you this week’s CRE transaction activity.
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News Headlines 

Major redevelopment in the works for Hamilton’s Downtown
The Hamilton Spectator, February 24, 2022

Hamilton airport attracts flurry of activity 
RENX, March 1, 2022

Preparation to demolish Jamesville in Hamilton North end underway
The Hamilton Spectator, February 25, 2022

3054 Homestead Drive (Fengate) proposed development
UrbanSolutions Planning & Land Development Consultants Inc.

February 2022 RAHB stats
RAHB, March 2022

Lawsuit over derailed LRT land deal looms over resurrected Hamilton project
The Hamilton Spectator, March 1, 2022

Saving Sobi: Hamilton will pay to keep bike-share network on the road
The Hamilton Spectator, February 26, 2022

Builder wins 11 storey Stoney Creek condo battle
The Hamilton Spectator, March 1, 2022

Broccolini expands GTHA industrial land bank
RENX, February 18, 2022

Large development proposal coming to downtown Burlington
The Hamilton Spectator, February 23, 2022

Ontario cottage country sees record low supply
Storeys Real Estate News, February 24, 2022

BoC hikes rate for first time since 2018
BNN Bloomberg, March 2, 2022

Industrial demand for SW Ontario industrial continues to grow
RENX, February 28, 2022

Investor frenzy rips through housing market
The Globe & Mail, February 18, 2022

Riocan REIT outlines new fiver year growth strategy
RENX, February 24, 2022

Census data field debate over supply and demand
The Globe & Mail, February 18, 2022

 

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