Pier 8 development’s indefinite pause disappoints local residents

The current state of the housing market is having an impact on a major development on Hamilton’s waterfront.

The builder at Waterfront Shores at Pier 8 is asking for a pause and the city has granted one, meaning the valuable waterfront property won’t see construction starting anytime soon.

The lot at Pier 8 along Hamilton’s waterfront remains in limbo, with no immediate plans to start selling pre-construction condos anytime soon.

The site has been approved for 1,500 residential units along with 13,000 square meters of commercial and institutional space — basically a waterfront redevelopment, but that’s now on pause.

“The Pier 8 project is kind of in a hold pattern,” said Andrea Horwath, the Mayor of Hamilton. “Like so many other housing developments, there is a lot of moving parts. The market is not in great shape, as everybody knows.”

The builder, the Waterfront Shores Corporation, says it would not be profitable right now to start selling condos in the current housing market.

So it’s within its legal rights, according to the contract, to pause the project.

Reactions from area residents are mixed.

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“I’m feeling kind of disappointed, it was something I was personally very excited about,” said Ashton Price. “I think that area is under-utilized — we should be using it a lot more, like a place to go and enjoy.”

“I’m disappointed that it’s being delayed,” said Jeff Glenn. “I was always disappointed there was going to be a 45-storey tower, but I was ok with the idea of a six to eight-storey condo units and was comfortable with that.”

Cameron Kroetsch, the City Councillor for Ward 2, says maybe the city should revisit what exactly should be built there, like purpose built rentals as one option.

“I’ve never supported the project in its current form, especially with luxury 45-storey condos,” said Kroetsch. “If you talk to the average resident in the north end, they would say this was not going to be a viable product of success in building.”

“I think there are more opportunities and I know our staff are looking at those,” said Horwath. “I think I know there is not only the type of housing that was initially contemplated, but considering some of the federal and provincial programs as well as the need, there might be other different types of housing down there.”

There is no word yet on how long this current pause will be or the next steps, but the city says it’s in talks with the builder and they are both monitoring the current housing market.

Horvath says she is confident the project will get done even with the delays and it could finish looking different, but in the end she says Hamilton’s waterfront will see mixed-use development including housing.

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