For the second consecutive week, the largest purchase occurred in Kitchener, where a 58-unit, multi-residential building at 475-477 Lancaster St. W. sold for $16.5 million ($285,000/unit). It’s a slightly high purchase price, but that’s understandable, considering multi-residential is the most robust asset class.

In Hamilton, the most exciting transaction was for 230 James St. N. The downtown mixed-use building was purchased for $2.35 million ($358/sq. ft). This purchase price appears fair: In 2021 and 2022, James St. has witnessed similar buildings trade in the high $300s to low $400s/sq. ft.  

Hamilton’s Design Review Panel has reviewed three proposals, including a 14-storey, 68-unit multi-residential development for the southwest corner of King and Caroline, which is currently the site of a small retail plaza.

The intersection is on the future LRT line and is attracting extensive development: