Emblem Purchases Third Downtown Development Site
This week saw an average amount of transactions, with Brantford noticeably slow during August and September.
The most significant transaction for the second consecutive week was a high-density residential land sale in Hamilton. Emblem Developments has purchased its third site in the city, 100 John St. N. and 61 Wilson St. — currently the site of an office and a retail building — for $8 million (approximately $13.8 million/acre). It’s slightly above market value, but this valuation could signify things to come with increasing condo unit values.
In the second largest transaction of the week, NorthWest Healthcare Properties REIT sold a medical office building for $294/sq. ft in Hamilton‘s east end.
In the news, more details have been revealed about last week’s Connolly sale, the Television City condos are expected to be built by 2026, and a study has found that OLT decisions have favoured developers 97% of the time.
Connolly Site Sold
The Hamilton Spectator, September 22, 2022
Television City condo expected to be built in 2026
The Hamilton Spectator, September 9, 2022
Ontario Land Tribunals decisions have favoured developers 97% of the time
The Hamilton Spectator, September 20, 2022
Deeply affordable Cityhousing building first of its kind in Hamilton
The Hamilton Spectator, September 24, 2022
Plan to build 23 homes on small lots in Kitchener sparks concerns over traffic
The Record, September 21, 2022
Renting growing twice as fast as home ownership
CBC News, September 21, 2022
Job vacancies hit record high in Q2
BNN Bloomberg, September 20, 2022