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Aeon Studio Group, TAS and Forge & Foster aim to turn 14 acres of barren land at Tiffany and Barton into a film production hub.

Alex Manojlovich’s Weekly Market Report: Exodus of Toronto suburbs driving Hamilton growth

This week witnessed a great volume of deals, even by month-end standards.

This week’s big winner was residential land, plus it’s good to see the office and retail assets continuing to trade at pre-pandemic levels.

Hamilton‘s largest transaction was near the airport for an unaddressed piece of land on the corner of Upper James St. and Twenty Rd. The commercially zoned 61.63 acres sold for $13.6 million ($220,000/acre).

The area’s largest transaction was in Brantford, where 110 acres sold to Primont Homes for $46 million ($414,000/acre). This purchase price suggests further land entitlement may be required. Also of note, Concert Properties purchased two plots of land in Kitchener for prices suggesting high-density development.

In the news: Torontonians are flocking to Hamilton, Council debates affordability for Hamilton’s future film district, and CBRE’s 2022 Q2 Industrial and Office figures are released.

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

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News Headlines

Exodus of Toronto suburbs driving Hamilton growth
The Hamilton Spectator, July 7, 2022

Council debates affordability for Hamilton’s future film district
The Hamilton Spectator, July 5, 2022

MLS® Residential Market Activity for RAHB Areas
Realtors Association of Hamilton-Burlington, June 2022

Three 31-storey condo towers planned for downtown Hamilton parking lot
The Hamilton Spectator, July 4, 2022

Affordable housing projects in jeopardy, non-profits say
The Hamilton Spectator, July 6, 2022

City council approves Hamilton 100 agreement
The Hamilton Spectator, July 4, 2022

Hamilton Main St to be reduced from 5 to 4 lanes
The Hamilton Spectator, July 6, 2022

Tale of two markets: industrial space almost non-existent in KW, while downtown office vacancies among highest in Canada
The Record, July 6, 2022

Canadian Industrial Figures: Continued industrial demand sees heightening rental rate growth
CBRE, Q2 2022

Canadian Office Figures: Office market steadying, with Vancouver and suburban markets leading the recovery
CBRE, Q2 2022

Critics demand less talk, more action on zoning plan to tackle Toronto’s housing crisis
CBC News, July 1, 2022

Labour shortages leading to cancelled projects in superheated construction sector
The Financial Post, July 7, 2022

Canada to enter moderate and short-lived recession in 2023 warns RBC
The Globe & Mail, July 7, 2022

Sweating it out at a high-end gym attracts workers back to the office
The Globe & Mail, July 5, 2022

Calgary skyline

Priced out of Ontario, homebuyers turn their eyes to the Calgary real estate market

By Amanda Stephenson
The Canadian Press, April 20, 2022

CALGARY — As Ontario’s sizzling real estate market puts home ownership out of reach for many Canadians, a growing number of prospective buyers are looking west in hopes of achieving their white-picket-fence dreams.

Like newlyweds Vineet Mrug and Kushbu Mistry, who relocated to Calgary from their hometown of Toronto last year, some residents of the GTA and other hot Ontario markets are moving to Alberta for what they believe is their last opportunity to own an affordable piece of real estate in a large Canadian city. READ MORE >>

 

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