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Hamilton's West Harbour Is Increasingly Seen As A 2 perspectivebusinessnews.com • Construction is progressing across the City An Attractive Community of Hamilton. Pictured is the site of Hamilton’s Pan Am Soccer Stadium – building towards To Invest, Work And Live In its opening in summer of 2014. oing business in the Greater Hamilton, Burlington and D surrounding areas is good business. Hamilton is well-positioned as a premier city in the province, given its proximity to one of the largest markets in North America, the benefits of its many transportation hubs and the quality of life available in this area. Hamilton has been named the best city in Ontario, and the third best in Canada, in which to invest and there are many good reasons for these desirable ratings. Whether you seek investment properties or commercial, industrial, mixed use, retail or office property for your own use, Hamilton has affordable and interesting opportunities awaiting you. As well, Hamilton enjoys an excellent transportation system – one of the busiest ports in Canada, the John C. Munro Hamilton International Airport, plus major highway access to all points east, west, north and south. Hamilton is a great place to work and invest; it is also a great place to live. Hamilton’s quality of life is one that many communities seek to build. The residential real estate market offers wide choice in housing opportunities in many and varied communities in and around the city. Hamilton also offers excel- lent education opportunities – including world-renowned public, private and post secondary institutions – community PRODUCED BY PUBLISHER, CEO STEVE MONTAGUE Commercial Property Perspective™ was produced PERSPECTIVE MARKETING INC. independently of the City of Hamilton. Contents are organizations and recreation opportunities. VICE-PRESIDENT ED MARTIN 1464 Cornwall Road, Suite 5 copyrighted and may not be reproduced without the By any measure, Hamilton is an Oakville, ON L6J 7W5 EXECUTIVE EditoR BRUNO RUBERTO written consent of Perspective Marketing Inc. The attractive community in which to invest, 1-866-779-7712 publisher is not liable for any views expressed in the MEDIA EXECUTIVE LINDA ECCLES work and live. [email protected] articles and opinions do not necessarily reflect those – Bruce Moran, President, REALTORS® www.perspectivebusinessnews.com WRITER BEN BENEDICT of the publisher or the City of Hamilton. Association of Hamilton-Burlington perspectivebusinessnews.com 3 With cranes in the sky, a new GO train station being built, a world-class waterfront steps from the core, and a growing creative class, a renaissance can be seen in the Hamilton core. DOWNTOWN RENAISSANCE owntown Hamilton has a variety Jack Beume, owner of J. Beume Real Developments for $3.6 million in 2000.” In Beume and other developers have seen the of commercial property options Estate Limited has seen it all, the good, the 2011, “The 450,000-square-foot building opportunities written on the walls of change. for your business including bad, and like others in the development that houses city offices, commercial space “I bought on the corner of Vine and James Hamilton City Centre, Jackson business, is ready to start building. He and retailers was purchased for $25 million 25 years ago and it’s been operating as a DSquare, and many independently operated has begun construction on a $10 million, by a Barrie-area developer.” parking lot since then,” says Beume. “Ham- structures and heritage buildings with space 36,000-square-foot three-storey building Beume has seen it all from the early boom ilton will bloom with smaller developments for rent or purchase whether you are starting on James Street North that’s designed with a years, to the fall, and now its revitalization. like mine and it will be a liveable city. We a business or looking to expand. If you are red brick exterior to match the 19th Century “When I started in real estate in 57/58 the are the New Jersey of New York – once you an owner, investor, developer, construction buildings in that area. It will have under- exodus was just starting to Burlington. The see the GO Trains full-time, Hamilton will company or property manager, Downtown ground parking for 50 cars with 22 cars steel workers from Hamilton also moved to develop as Toronto’s overflow city.” is a central place to meet clients, grow con- behind the building and is set to open by Burlington. That fed on itself and that is now It’s a sentiment that has permeated from tacts, and develop valuable referral sources. July 2014 with half of the new structure changing for Hamilton,” says Beume. the highest levels of municipal government Like many North America communities, already leased. He also understands the risks. “The CIBC towers were built for to feet on the street. “With cranes in the Downtown Hamilton struggled along as In a Hamilton Spectator article of $42 million each and sold for $20 and sky, a new GO train station being built, a times and economies changed. Yet, unlike July 7, 2011 regarding the Hamilton City $14 million, respectively,” he adds. “I’m world-class waterfront steps from the core, many of those communities, Hamilton Centre, Meredith MacLeod writes that it taking a huge risk but because of low interest storefronts occupied, a quickly growing and its downtown are seeing an incredible was “built as a downtown mall for $70 rates and a tenant paying a rate that is creative class, Hamilton’s downtown is cultural and development renaissance and million in 1990 by Cadillac Fairview equitable to the building, we decided to experiencing a phenomenal renaissance,” that’s led to a flurry of investments and Corporation” and notes that “the former gamble and build the structure.” says Hamilton Mayor Bob Bratina. new buildings in the core. Eaton Centre was bought by Fercan Patience and timing are important, but - continued on next page 4 perspectivebusinessnews.com RESURGENCE CAN BE SEEN THROUGHOUT THE CORE - continued from previous page the burden of rent on start-up businesses, and municipal incentive programs. Ana Cacilhas is manager of Hamilton City and are in demand. This segment is growing “It’s a combination of market conditions Downtown Hamilton Centre and after years of working in the area, at a rapid pace, and it’s conceivable this trend and the employment situation has created a she’s seen the changes and renewed optimism. will continue for the foreseeable future.” solid foundation for small business to thrive. has witnessed a real “Our new owner saw the changes and felt “The downtown has also witnessed a real It’s affordable for smaller business to own, influx of arts and strongly that this was the time to invest. It’s influx of arts and cultural users and small redevelop, and operate their businesses in the small business sector that’s keeping the businesses,” says Apostol. “Investors have the core,” says Apostol, who also suggest that cultural users and core alive,” says Cacilhas. taken note and are capitalizing on this it’s a good time for investors to be taking a small businesses. “There’s some positive things happening cultural resurgence.” second look at Hamilton. with McMaster University committed to Downtown Hamilton is seeing a resurgence “The downtown has a strong sense of Investors have taken coming downtown and we’ve just announced of commercial investments supported by low community engagement and good support a 50,000-square-foot state-of-the-art family interest rates; a cultural renaissance that is from the Economic Development Depart- note of this and are entertainment centre on our lower level.” bringing new visitors and residents alike; an ment,” says Apostol. “Investors considering capitalizing on the Beume’s already starting on his next project explosion of about 2000 new multi-residential the downtown should leverage these resources and, like Cacilhas, sees that commitment in housing units either under construction or and take advantage of the many incentive cultural resurgence. many of his peers. “I’m in the middle in the advanced planning stage at this time; programs offered by the city of Hamilton.” of planning my next development and it is also downtown,” he says. “My neighbour is re-developing his property as a pottery studio and a number of older buildings are also being renovated. Diamante Holdings has purchased the Tivoli Theatre. There are a lot of plans and I hope they come to fruition. I am very committed.” Evan Apostol is a property manager with Wilson-Blanchard and sees similar changes tak- ing place in the commercial real estate sector. “The office market in the last five years has seen the continued trend of large companies consolidating multi-location, smaller-scale operations into single location, large-scale head offices. Small- to medium-sized businesses are also finding efficiencies in their workforce through use of technology, telecommuting, and flexible work hours. These two factors mean businesses need less office space, and this has the effect of putting upward pressure on office vacancy rates,” says Apostol. At the same time, Apostol adds, “the rise of the entrepreneur has created an entirely new market for landlords to cater to. “These users demand smaller offices typically accommodating five employees or less. However, where exclusive office space is too large an investment, offerings such as shared office space, hot-desking, and co-working spaces all help to reduce perspectivebusinessnews.com 5 6 perspectivebusinessnews.com WHETHER YOU HAVE SERVICE ORGANIZATIONS BEEN IN BUSINESS FOR YEARS, ARE A YOUNG WORK TOGETHER FOR START-UP, OR EVEN EXPLORING A MOVE OR BUSINESS SUCCESS BRANCH OFFICE IN THE ll businesses need other business at REGION, DOWNTOWN times, for support, marketing, and as HAMILTON IS HOME TO Aclients. Downtown Hamilton has a variety of professional service organizations A VARIETY OF SERVICE focused on your business success whether you have been doing business for years, are a ORGANIZATIONS THAT young start-up, or even exploring a move or ARE FOCUSED ON YOUR branch office in the region.
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