Hamilton’s Highest Value Development Projects for 2022 (so far)

This week witnessed lower than typical volumes, with Hamilton being the top performer for the third consecutive week and Kitchener-Waterloo/Cambridge providing a very, very rare no-show. St. Catharines also did not register a commercial real estate transaction.

With the Bank of Canada interest rate increases, we’re beginning to materially see a slowing in the market, however, values have continued to hold.

This week’s largest transaction occurred in Brantford, where 102 acres of vacant prospective residential land at 531 Powerline Rd. sold for approximately $24 million or $238,000/acre, which usually indicates the land requires substantive land entitlement before development can be implemented.

Of note for HamiltonVrancor Group purchased 21 Queen St N, a house abutting their King St and Queen St block development, for $500,000 or $10 million/acre.

In the news, The Spec provided a story on Hamilton’s highest value development projects for 2022, IKEA purchases 65 acres of Hamilton land (as reported last week), and the unemployment rate drops in Hamilton.

News Headlines

Hamilton’s highest value development projects for 2022

IKEA purchases 65 acres of land in Hamilton for $82 million

Unemployment rate drops, economic growth ‘optimistic’ for Hamilton 

Hamilton architect says Barton apartment would be first in 100 years

July 2022 RAHB Stats

North American leader in logistics expands facility in Hamilton

The first tiny home show in Hamilton takes place this week 

Alex Manojlovich’s Weekly Market Report: Slate purchases 800 acres of Stelco land for $518 million

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.


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There’s also lots of Hamilton news across the board:

  • Slate has acquired 800 acres of Stelco land for $518,000,000 and plans to develop a world-class business park
  • Eastgate Mall plans for 42 storey tower and multiple residential developments
  • Lime Ridge Mall is planning two 12-storey towers
  • The first iteration of the Delta Secondary School development has been released
  • Slate looks to break ground on their Corktown development in 2023

The GHA Sales Transaction Database offers you this week’s CRE transaction activity.

Alex Manojlovich

News Headlines

Slate closes on 12m sqft of Hamilton Stelco industrial land
RENX, June 1, 2022

Slate purchases Stelco land for $518m
The Hamilton Spectator, June 1, 2022

Eastgate Mall proposes 42 storey tower, multiple residential buildings
The Public Record, June 6, 2022

Lime Ridge Mall plan two 12 storey residential towers
The Public Record, June 4, 2022

First development for east Hamilton Delta Secondary school site submitted to City
The Public Record, June 2, 2022

Downtown boomtown: ‘Hamilton is the new Brooklyn’
The Hamilton Spectator, June 1, 2022

Slate set to break ground on Corktown Condos in 2023
The Hamilton Spectator, May 31, 2022

OLT supports Ancaster townhouse development for 15 Church St
The Hamilton Spectator, June 6, 2022

Hamilton vacant homes tax
The Hamilton Spectator, June 2, 2022

May 2022 RAHB stats
MLS ®  Residential Market Activity for RAHB Areas, May 2022

Rent for 2 bedroom in Hamilton nears $2,000/month
The Hamilton Spectator, May 31, 2022

Hamilton Downtown BIA creates “memory lane” self-guided tour
The Hamilton Spectator, May 31, 2022

Montez buy Waterloo factory square office complex for $122m
RENX, June 2, 2022

London, ON Cherryhill Village sells for record $571M
RENX, May 30, 2022

Ontario home buyers flocking to Quebec
The Toronto Star, May 28, 2022

BoC raises rate to 1.5%
CBC News, June 1, 2022

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On Saturday, June 11 at 10 a.m., take time to celebrate and learn about the street art in downtown Hamilton through a guided tour. 

✏️ Register now!

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.

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