This week witnessed below-average transaction volumes. However, there was a variety of noteworthy deals.
This week’s largest transaction was in Hamilton, where Guido De Brès Canadian Reformed High School Society purchased a former elementary school for $15.5 million ($175/sq. ft). That price is in line with a former school in Dundas that sold two weeks ago.
In the hospitality sector, Big Coffee Inc. purchased the former Masonic Hall in Dundas for $1.65 million ($332/sq. ft), and Radius Hospitality Corp. picked up 18-20 Hess St. S. for approximately $2.3 million ($446/sq. ft).
Also of note: local firm Effort Trust purchased 37.75 acres of vacant land in Thorold for $4.7 million ($124,000/acre).
In the news, the Radio Arts condo development will start construction in November, Hamilton saw a big drop in per capita municipal spending, and Canada will fund a rent-to-own program as part of its $2 billion housing plan.