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Slate plans up to 12M sq. ft. of industrial on Hamilton Stelco land

Don Wilcox, RENX, June 1, 2022

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.

READ MORE >>

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Sold sign at house in Hamilton

Hamilton saw second greatest yearly increase in home prices last month: report

The average sale price for a detached home in Hamilton was $1.06 million in April.

By Fallon Hewitt, Spectator Reporter

Thu., May 19, 2022

New data from the Teranet-National Bank shows that Hamilton house prices have soared by nearly 30 per cent in the last year.

Released Wednesday, the monthly composite house price index report showed Hamilton’s rate of skyrocketing prices trailed only Halifax among 11 urban areas across Canada last month. READ MORE >>

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McMaster Innovation Park

McMaster Innovation Park wants more residential development

Steve McLean, May 16, 2022

A multiresidential housing component was always planned for the McMaster Innovation Park (MIP) in Hamilton, but now its developer wants more.

Current zoning allows for residential uses on the employment lands to amount to eight per cent of overall gross floor area in a maximum of two buildings. MIP, however, has asked Hamilton city council and staff for permission to boost that to 15 per cent and have 524 residential units in buildings of 26, 22 and 14 storeys.

“As the innovation park has evolved and the density has increased for life sciences, the appropriate ratio of 15 per cent of the GFA was requested as a revision based on a residential study,” MIP vice-president of development and design Frances Grabowski said in an email interview with RENX. READ MORE >>

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Luxury home in Hamilton, Ontario

April listings: Hamilton’s most and least expensive homes on the market

This month price tags varied from the low end of $399,000 to $3,999,999

By Delaney Caulfield, The Hamilton Spectator

Sun., May 1, 2022

Unsurprisingly, despite efforts from the Bank of Canada to tame it, the housing market continues to climb.

A report released last week from the Canada Mortgage and Housing Corporation stated the average home in the Hammer is expected to cost over $1 million beyond 2024. The average single-family home in the city is currently $992,500.

With that in mind, here are Hamilton’s least and most expensive homes listed on Zoocasa, as of April 26.

Five lowest-priced homes

28 Northcote St. Listed for $399,000, this recently renovated home sold at $550,000 after eight days on the market.

28 Northcote St.

Listed for $399,000, this recently renovated home sold at $550,000 after eight days on the market. Located around the corner from Dofasco, the four-bedroom, two-bath house has a open-concept main floor and a unique loft space that can be transformed into whatever tickles your fancy. READ MORE >>

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Houses for Sale

Hamilton’s population up 6%, outpacing provincial average

Wards on Hamilton outskirts and downtown experience double-digit growth, according to latest census data.

By Ritika Dubey The Hamilton Spectator

Sat., April 9, 2022

Hamilton’s population grew six per cent between 2016 and 2021, according to federal census data — slightly outpacing the provincial average of 5.8 per cent.

According to the data, which appeared in a recent report by the city’s planning and economic development department, 584,755 individuals were living in the city as of last year — 1,755 more than were forecast.

The areas with the highest population growth included downtown (Ward 2), (Ward 9), Glanbrook (Ward 11) and Flamborough East (Ward 15). READ MORE >>

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Get in on that Staycation Tax Credit with these hot destinations

What’s the deal with that staycation tax credit?

The temporary Personal Income Tax credit lets you claim eligible accommodation expenses if you’re an Ontario resident.

You could get back up to 20% on eligible accommodation expenses for stays this year at hotels, motels, lodges, bed-and-breakfasts, cottages, campgrounds and other short-term accommodations in Ontario that charge GST/HST.

Find out all the details here.

Okay, I’m in for that sweet tax credit deal! So where should I go?

Get the NYC experience right here in the Hammer: Experience a New York-style loft located in downtown Hamilton!

  • A very spacious 2,600 square feet
  • 4 guests, 2 bedrooms, 2 beds, 1 bath
  • The GO Station is just steps away
  • Walking distance to major attractions like:
    • Dundurn Castle
    • the Art Gallery of Hamilton
    • Tim Hortons Field

Get all the details and book this Airbnb today >>

Downtown Hamilton Airbnb
Downtown Hamilton Airbnb
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Downtown Hamilton Airbnb

Looking for something more outdoorsy? 

Book a getaway at Harmony Resorts

Glamping! Cottages! Cabins! Tiny Cottages! Seasonal Sites! Campsites! Harmony Resorts has it all.

There’s never been a better time to enjoy all that Ontario has to offer. So make your staycation plans today!

in Editorial, Thought Leadership Posted by wpengine
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.
Would you like to receive this update in your inbox each week? Sign up for our newsletter here.
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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Copps Colosseum

Hamilton’s downtown challenge

Hamilton’s downtown challenge

How do we develop the sort of downtown that is equally appealing to tourists and local residents, but is at the same time inclusive.

By Spectator Editorial The Hamilton Spectator

Sat., Feb. 26, 20223 min. read

What kind of downtown Hamilton do we want? What kind do we need? These are exciting and challenging questions for those of us who care deeply about the core of our city.

They are far from easy. We have vast potential, more than we have seen downtown in a generation.

Read more >>

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64 Hatt Street, Dundas, Ontario

With AcreageWay, Now You Can Invest In The Soaring Commercial Real Estate Market With As Little As $1,000

With AcreageWay, Now You Can Invest In The Soaring Commercial Real Estate Market With As Little As $1,000

Rising prices have locked many Canadians out of the real estate 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 so does AcreageWay. Their new investment portal is something that we’re really excited about.”

What is AcreageWay?

AcreageWay is a new Ontario-based commercial real estate investment startup. It lets investors like you enter the commercial real estate market with as little as $1,000 and earn income from your investment.

“Commercial real estate requires a huge amount of upfront cash to gain entry, and that ranges from $500,000 to $1 million-plus, so a common investor who doesn’t have that much cash won’t be able to enter these opportunities,” AcreageWay president Aditya Koparde told the Globe and Mail. “Where we come into the picture is we’re fractionalizing these opportunities so they can invest.”

“For too long, real estate has been behind closed doors and not accessible to everyone.”

— Joe Accardi, Partner & CEO of Forge & Foster. 

AcreageWay lets you click to buy a percentage of a commercial property by investing in an equity portion of the property ownership.

AcreageWay provides a secure and regulated platform for you to buy fractional real estate in the form of tokens. All the transactions are documented and stored digitally through Blockchain technology.

What Are AcreageWay’s Main Benefits?

  • Investors do not need to get a mortgage
  • Investors do not need to pay a huge down payment
  • None of the pain of managing a property or being a landlord
  • No closing costs
  • You’ll get a share of rent and gains on the property when it’s sold
  • AcreageWay provides you with ongoing oversight and support
  • Every investment property undergoes a detailed due diligence process

AcreageWay is licensed by the Ontario Security Commission, which requires the company to put prospective investors through full due diligence to ascertain their risk threshold to determine their suitability for certain projects.

Why Invest In Commercial Real Estate in Hamilton?

“Hamilton is a high-speed, exciting, electric city that is primed to have an amazing decade,” says Accardi, whose Hamilton firm is committed to delivering optimal returns to investors by artfully restoring local real estate.

Properties like 64 Hatt St., which you can invest in on AcreageWay, offer tremendous upside potential through redevelopment.

64 Hatt Street, Dundas, Ontario
64 Hatt St. in the Hamilton community of Dundas.

The Millworks at 64 Hatt St. was founded in 1850. It’s an easy two-minute walk away from the historic and beautiful downtown Dundas community in Hamilton. All units boast brick & beam construction, large windows, and open-concept designs.

This historic brick & beam building has excellent accessibility with a Walkers Paradise Walk Score of 90. The property is professionally managed by Forge & Foster. With onsite parking and access to a back patio on the beautiful Spencer Creek, 64 Hatt St. is sure to attract AAA tenants.

HERE’S HOW TO LEARN MORE ABOUT ACREAGEWAY

It’s quick and easy for you to create an account at AcreageWay. So start your investment journey today. Visit acreageway.com/signup to create an account and invest in AcreageWay’s investment opportunities now.

start your investment journey today
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Hamilton approves rezoning for 769 unit development at Corktown Plaza

This week witnessed a higher than average volume of transactions take place including a mix of all asset classes. The most expensive transaction this week was for 50 acres of agricultural land, located near Binbrook, in Hamilton for $17,000,000 or $337,435/acre. This could either indicate a future industrial development or speculative future residential development given the existing zoning. Other notable transactions include 117 John St N, which looks to be part of an assembly for the 41 Wilson St acquisition by First Avenue Investment Counsel and Broccolini Construction’s purchase of 10 acres in Cambridge, further cementing their foothold in Southern Ontario. In the news, the city of Hamilton has approved a rezoning application for a  proposed 769 unit, 27, 14 & 8 storey development by Slate Asset Management. Feel free to reach out with any questions regarding the GHA transactions or news.

Update brought to you by: Alex Manojlovich, Forge & Foster Investment Management

 

Please click the “GHA Sales Transaction Database” link below to view the most recent transaction activity.

GHA Sales Transaction Database
Corktown Plaza rezoned for proposed 27 storey development

Hamilton Store Fixtures building approved to be 13 storey condo

Emblem Development’s 1 Jarvis

Nokia & City of Hamilton: Smart City Innovations

Creativity and collaboration meet at Millworks

Fed’s, Province and LiUNA close to aligning on Hamilton LRT deal

Ontario plans to expand Greenbelt to include Paris, Galt Moraine and others

Toronto condos including co-working spaces

How Canada’s real estate market defied expectations

Jobs lost in 2020 hit workers with wages below Canadian average 

Canada’s life sciences sector needs more lab space

Altus Group National State of the Market 

Home renovation boom sends lumber prices to record price

Toronto set to be home to e-sports performance venue by 2025

With demise of mobile home parks in Kelowna, affordable home ownership slips away for many 

If you’re looking to keep your finger on the pulse of all Hamilton residential and commercial real estate projects and trends, subscribe to Forge & Foster’s free weekly newsletter here!

in Editorial, Thought Leadership Posted by wpengine

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