8-Storey Mountain Development Will Go to Design Review Panel

A rendering of the proposed 8-storey mixed-use development at 1866 Rymal Rd. E. in Stoney Creek. The Hamilton Design Review Panel will assess the proposal at their meeting on Thursday, February 9.

This week witnessed good transaction levels in all subject markets.

The largest transaction occurred in Kitchener as ONE Properties sold a relatively new retail plaza for $18.75 million ($240/sq. ft). It’s great to see the retail asset class rebounding from its pandemic lull.

The largest Hamilton transaction occurred on the Mountain, where Winzen Group purchased 8.44 acres of land for $11.2 million ($1.3 million/acre). Although it’s currently zoned agricultural, the property looks primed for a residential infill project.

Lots of news: The DRP will discuss an 8-storey proposal, the proposed towers project by Stoney Creek Battlefield House Museum and Park is headed to the OLT, and CBRE released their Q4 2022 cap rate report.

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

Take care,
Alex Manojlovich
Director, Strategy & Research


News Headlines

DRP to discuss an 8-storey proposal on 1866 Rymal Rd E
The Public Record, January 29, 2023

Proposed towers by Stoney Creek headed to OLT
The Hamilton Spectator, January 31, 2023

Hamilton EcDev January 2023 Stats
Invest in Hamilton, January 2023

Dofasco to build 14 km pipeline for ‘green steel’ project
The Hamilton Spectator, February 2, 2023

Hamilton considers fund for non-profit housing
The Hamilton Spectator, January 31, 2023

Hamilton not taking position at urban boundary court challenge
The Hamilton Spectator, February 1, 2023

Another strong year at HOPA Ports
HOPA, February 2, 2023

Federal Environment Minister might intervene in Ontario’s Greenbelt development plan
The Globe & Mail, January 26, 2023

Hamilton to restrict short-term rentals to tackle affordable housing crisis
CBC News, January 27, 2023

Intelligent Investment: Canadian Cap Rates & Investment Insights
CBRE Research, Q4, 2022

Canada Monthly Mortgage Commentary — Intelligent Investment: The Conditional Pause 
CBRE, January 30, 2023