This week witnessed an excellent level of transactions, with Brantford, in particular, picking up some slack.
Hamilton narrowly avoided a month without a multi-residential sale. On the books for September is the sale of an eight-unit building near Stoney Creek. It traded for close to $300,000 per unit, a high value.
Also in Hamilton, Spallacci Homes purchased 5.92 acres of land near Lime Ridge Mall for $3 million. It’s a peculiar purchase as the site appears to be a cemetery.
The largest purchase this week took place in Kitchener. The 401 Group of Companies purchased an 81,000 sq. ft industrial building for $28 million ($344/sq.ft). That’s a high purchase price for an industrial facility, but it also includes approximately 3.5 acres of excess land.
In the news, Doug Ford has announced construction on a new GO Station in Hamilton, twin towers have been proposed in Stoney Creek, and Ontario plans to cut development fees on affordable housing.