Hamilton’s hot condo market will continue to soar

While the developers of the Connolly condo filed for receivership last month, city officials are still confident in Hamilton’s hot condo market. They say if there is an open space in the downtown core, there will most likely be a construction site there soon.

“You go back probably ten years and count on one hand the number of new residential units being built in the core, over the last three years we’re up over 1200 units,” said Jason Thorne, General Manager of Planning and Economic Development for the City Of Hamilton.

Thorne says to expect thousands more. Upcoming projects include Television City above our CHCH studios, a 34-storey condo on George street, the Tivoli building, two massive towers above the former Delta Bingo site and right across the street, the revitalized Royal Connaught and its surrounding towers.

Thorne says in fifty years, Hamilton tallest structure, the 39-storey Landmark Place will have a lot of company in making up the city’s skyline.

In the meantime, the core’s growth is almost outpacing the cranes.

“Fifty-four new businesses last year, 27 of them restaurants, 1,037 new jobs alone in downtown Hamilton,” said Hamilton City Councillor Jason Farr.

Councillor Farr and Jason Thorne say that the city is making sure that they don’t get too carried away with towers taking over the city. Thonre says that they pay particularly close attention to the design of any high rise concepts. Farr says that there’s a rule in place that prohibits towers being taller than the escarpment.