Downtown Hamilton Development Opportunity

Home , Ancaster Heights Falls, Art Gallery of Hamilton, Beasley Park, Greater Toronto Area, Hamilton Centre, Hamilton City Hall

71 REBECCA STREET

APPROVED DOWNTOWN HAMILTON DEVELOPMENT OPPORTUNITY

1 CONTACT INFORMATION

BRETT TAGGART* Sales Representative 416 495 6269 [email protected]

BRAD WALFORD* Vice President 416 495 6241 [email protected]

SEAN COMISKEY* Vice President 416 495 6215 [email protected]

CASEY GALLAGHER* Executive Vice President 416 815 2398 [email protected]

TRISTAN CHART* Senior Financial Analyst 416 815 2343 [email protected]

2 *Sales Representative TABLE OF CONTENTS

1. EXECUTIVE SUMMARY 2. PROPERTY PROFILE 3. DEVELOPMENT OVERVIEW 4. LOCATION OVERVIEW 5. MARKET OVERVIEW 6. OFFERING PROCESS

3 EXECUTIVE SUMMARY

4 01 5 THE OFFERING // EXECUTIVE SUMMARY

CBRE Limited (“CBRE “or “Advisor”) is pleased to offer for sale 71 Rebecca Street (the “Property” or “Site”), an approved mixed-use development opportunity with a total Gross Floor Area (GFA) of 327,632 sq. ft. The development opportunity includes a maximum building height of 318 ft. (30 storeys) containing 313 dwelling units, with 13,240 sq. ft. of commercial floor area on the ground floor on 0.78 ac. of land along the north side of Rebecca Street, between John Street North to the west and Catharine Street North to the east in the heart of Downtown Hamilton. Positioned within close proximity to both the Hamilton GO Centre Transit Station and the West Harbour GO Transit Station, this offering presents a rare opportunity to acquire a major development land parcel that is ideally positioned to address the significant demand for both new housing and mixed-use space in Hamilton. 71 Rebecca Street is currently improved with a single storey building that was originally built as a bus terminal and operated by Grey Coach and Canada Coach Bus Lines until 1996. Since 1996, the Hamilton Urban Core Community Healthcare organization has leased and occupied the premises. The HUCCH organization lease expires on January 31, 2020, at which point HUCCH will be relocating to their new premises that are still under construction. The Property currently generates over $99,000 of annual net holding income. The Property is exceptionally well located in Downtown Hamilton within walking distance of major transit, retail and employment hubs. The Site is also well serviced by several Hamilton Street Railway routes providing connections throughout the city. McMaster University’s downtown campus, Hamilton Downtown Family YMCA, Hamilton Farmer’s Market, Hamilton Central Public Library, Hamilton Convention Centre, the Art Gallery of Hamilton, the Lloyd Jackson Square, the Hamilton City Centre, and the Theater Aquarius are all in walking distance to the Property adding to the vibrancy and convenience of the community.

ASKING PRICE - $11,500,000

PROPERTY DETAILS Address 71 Rebecca Street Municipality Hamilton Lot Area 0.78 ac. John N Frontage 74 f t. Rebecca Frontage 314 ft. Catharine Frontage 145 ft. Zoning D1 Downtown Central Business District Official Plan Downtown Mixed-Use Area

6 JOHN ST N WILSON ST

REBECCA ST

CATHARINE ST N

7 OFFERING HIGHLIGHTS // EXECUTIVE SUMMARY

APPROVED DEVELOPMENT SITE IDEAL DOWNTOWN HAMILTON LOCATION WITH SUPERB TRANSIT ACCESS Approved development opportunity permitting a 327,632 sq. ft. Within walking distance to McMaster downtown campus, City 30 storey building with 313 dwelling units. Hall, St. Joseph Hospital, General Hospital and numerous office complexes. Close proximity to GO transit and Hamilton Street Railway provides easy access to locations throughout Hamilton and the GTA.

RISING HAMILTON MARKETPLACE HOLDING INCOME IN-PLACE Hamilton high-rise fundamentals have significantly Over $99,000 of annual net holding income. improved. Strong price growth over 2017-2019 and strong Negotiable lease term in place to allow on-demand absorption of units. development

REBECCA ST

CITY OF HAMILTON AMPLE OUTDOOR SPACE INCENTIVES The City of Hamilton offers financial incentive programs to assist Property overlooks the 2-acre John-Rebecca Street Urban with development in Downtown Hamilton. Park and will front onto the Rebecca Street woonerf. A woonerf is a living street that creates a shared space for THEY INCLUDE: cars and pedesrians, has a low speed limit and features • Development Charge Reductions trees, bushes, and planters. • Brownfield/Erase Program • Hamilton Tax Increment Grant Program • Business Improvement Area Commercial Property Improvement Grant Program • Multi Residential Property Investment Program • Commercial Property Improvement Grant Program

September 2018 September

Concept Plan Concept

JOHN REBECCA PARK REBECCA JOHN

50m 25m 0 2 AC. ST. WOONERF/PARK WILLIAM KING

John-Rebecca Park (under construction) Plaza HAMILTON FIRE King William William King DEPARTMENT

STATION 1 Pavilion

JOHN ST. N

CATHERINE ST. N

Area

Pond

Grass

Splash & Skate & Splash

Open Open

Island

Pine

Knolls

Future Property Line Property Future Proposed Street Trees Street Proposed

Grove Play Play

Tree

Existing Property Line Property Existing

Grove

Rain Garden Rain

Seating

Multi-use Multi-use ALECTRA

(To be designed & constructed as part of separate project.) separate of part as constructed & designed be (To UTILITIES Proposed Woonerf Proposed

REBECCA ST. REBECCA BUILDING

NEW DEVELOPMENT Hamilton Police Investigative Services building (fall 2019 completion)

SUBJECT PROPERTY

JOHN ST N

Source: Hamilton Police Services Rendering, 2019

REBECCA ST

CATHARINE ST N

9 PROPERTY PROFILE

10 02 11 Tristan Chart* Senior Financial Analyst 416 815 2343 [email protected]

PROPERTY OVERVIEW // PROPERTY PROFILE

Address 71 Rebecca Street Municipality Hamilton Lot Area 0.78 ac. Approx. 74 ft. on John Street North Frontage Approx. 314 ft. on Rebecca Street Approx. 145 ft. on Catharine Street North Zoning Downtown Central Business District Official Plan D1 Downtown Mixed Use Area

JOHN ST

CATHARINE N ST

REBECCA ST

12 Tristan Chart* Senior Financial Analyst 416 815 2343 [email protected]

ADJACENT USES The site is surrounded by a variety of commercial uses and building types. The surrounding contextual relationships of different uses and different building heights play an important role in future mixed-use development configurations for the Site.

ENVIRONMENTAL SUMMARY The Vendor has a Phase 1 ESA prepared December 2015, a Phase 2 ESA prepared March 2016, a Designated Substances Survey prepared in 2015, and TSSA correspondence dated April 27, 2016. All of these documents will be made available in the on-line data room.

DIRECTION AWAY FROM SITE USE

North Impark Parking Lot

West Impark Parking Lot

South Vacant Property being redeveloped into parkland/woonerf (under construction)

East New Hamilton Police Forensics Facility development (under construction)

13 DEVELOPMENT OVERVIEW

14 03 15 DEVELOPMENT CONCEPT

TRANSFORMATIVE MIXED-USE DEVELOPMENT The scale of the Property leads into a transformative and landmark development with +325,000 sq. ft. of mixed-use density in a single tower plus 8-storey podium configuration featuring residential condominiums and grade-level commercial uses. The adjacent uses include the future John Rebecca Urban Park/Woonerf (under construction) and the future Hamilton Police Investigative Services Building (under construction), which will incorporate significant green and publicly accessible space and amplify the vibrance of the downtown area. Key development considerations for the Site include height and density, road widening and parking. OFFICIAL PLAN AND ZONING BY-LAW AMENDMENT The City of Hamilton approved the Vendor’s development concept via Official Plan Amendment and Zoning By-law Amendment as of September 26, 2018. No Notice of Appeal was filed under either Section 17(24) or Section 34(19) of the Planning Act within the prescribed timeframes, such that both the OPA and rezoning were enacted as of October 31, 2018. As part of the rezoning, the City amended Zoning By-law 05-200, which governs the lands at 71 Rebecca Street. The enacted amendments are referred to as Official Plan Amendment 114 (By-law 18-292) and Zoning By-law 18-293, and are available in the online dataroom. As a prerequisite to finalize approvals and building permits, the site will require successful approval of a site plan application. OFFICIAL PLAN AMENDMENT Site Specific Policy Area to permit a high-density mixed-use building and increase maximum density from 300 units per hectare • 30 storey mixed use building • Max. height of 97 m. • Max. density of 1,010 units per hectare • Road widening on Rebecca Street and John Street North not required in case of a secured woonerf road concept ZONING BY-LAW AMENDMENT Zoning updated from Downtown Mixed Use (D3) Zone to Downtown Central Business District (D1, 701, H105) Zone with the below Specific Exemptions • Front Lot Line: Rebecca Street • Max. Building Setback from Street Line: 3.6 m. for first and second storey • Max. Building Height: 97 m. • Parking: • 3.0 m. wide planting strip between street and car share parking spaces shall not be required • Min. Parking Requirement: 0.65 spaces per dwelling unit, or 0.3 spaces per dwelling unit if the unit is 50 sqm in GFA or less

16 Height (storeys/meters) 30 / 97 m. Total GFA (Residential & Retail) 327,632 sq. ft. Number of Units 313 Residential GFA 306,524 sq. ft. Resident/Visitor Parking Spaces 204 Commercial GFA 13,240 sq. ft. Bicycle Spaces 162 Total Amenity Area (sq. ft.) 22,942 sq. ft. Loading 2 loading areas Interior (sq. ft.) 10,559 sq. ft. Exterior (sq. ft.) 12,383 sq. ft. Project No.

11642 H

PROJECT NORTH

TRUE NORTH 0 71 REBECCA STREET MIXED USE SONOMA DEVELOPMENT GROUP Date: Scale: PROPOSED SITE PLAN COMMERCIAL AREA 2018-09-12 1:300

22260 COMMON AREA/ U

5 CORRIDORS

U U 1190

610

U 93.55

PROPERTY LINE U U DAYLIGHT TRIANGLE 10m 9 METER U

U W

W U U

93.76 U

U U 3650

1995 93.77 FFE PROPERTY LINE

1150

KING WILLIAM 93.55

5.5 93.57 FFE PARKING LEGEND x36 2.6

5.8 PROPERTY LINE PROPERTY x93 2.6 DOWNTOWN SECONDARY PLAN 0m SETBACK FUTURE JOHN/REBECCA PARK

3480 5.5

AS OUTLINED IN

PARKING BICYCLE

x13

2.8 0m SETBACK 93.37 SITE FOR

5.8 x62 2.8 OUTLINE OF RESIDENTIAL 600 TOWER ABOVE PROPERTY LINE THE 3515 OUTLINE OF RESIDENTIAL TOWER ABOVE

93.27

LANDSCAPED AREA COVERAGE HEIGHT COMMERCIAL GFA NET LOT AREA RESIDENTIAL GFA FFE 93.22 OUTLINE OF PODIUM ABOVE STAGING AREA LOADING AND 30 STOREYS / 97 m 1150.46 m² PODIUM 3,094.24 m² (99.5%) 466.29 m² GROUND 1616.75 m² TOTAL 3515

1,217.6 m² ENCLOSURE GARBAGE 28,994 m² 3,108.3 m²

RESIDENTIAL

PODIUM ABOVE PODIUM OUTLINE OF OUTLINE ENTRANCE PROPERTY LINE

FFE 93.1 AVG. FLOORPLATE UNIT COUNT LOADING PARKING SPACES AMENITY SPACE 93.1 UNDERGROUND EXTENT OF

OUTLINE OF RESIDENTIAL TOWER ABOVE

PARKING BICYCLE OUTLINE OF RESIDENTIAL TOWER ABV. 3515 1-9m x 3.7m, 1-18m 3.7m (4.3m HEIGHT MIN.)

981 m² INTERIOR, 1150.46 EXTERIOR BIKE: 162 LOCKABLE BIKE STORAGE 92.86 (198 STANDARD + 6 BARRIER-FREE) 1810 92.87 FFE 204 RESIDENT/VISITOR 4 CAR-SHARE SPACES 1077.42 m² 313 UNITS 600 0m SETBACK PROJECTING 20735 CANOPY ABOVE 14850

22470

W W 2150

2800

92.63

B 2730

2690 W

B B PROPERTY LINE

OUTLINE OF 600 W

B B B B B B B B B B B B B B B B B B B B B B B B B B B B B W PODIUM ABOVE DN 0m SETBACK DAYLIGHT TRIANGLE 4.57 METER

PROJECTING CANOPY

ABOVE

H B H

24840 H

H H ST CATHARINE STREET NORTH ST ST ST ST ST ST ST H ST ST ST ST ST ST ST ST

ST ST W ST ST

ST ST

San ST

San ST ST

San ST

San ST ST

San ST

W San ST

San ST 7500 6000

San ST ST

San ST

San ST ST

San ST

San ST ST

San ST

San ST ST

San ST

San ST ST

San ST

San ST San ST

San ST

San ST ST

San ST

San ST ST

San ST

San ST ST

San ST

San ST ST

San ST

San ST ST

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San ST ST

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San

San San 20485 San

17 LOCATION OVERVIEW

18 04 LOCATION OVERVIEW

Located within the Greater Golden Horseshoe, Hamilton is one of the largest cities in Ontario and one of the most diversified economies in Canada according to the Conference Board of Canada. Located less than 45 minutes from downtown Toronto, Hamilton has seen an influx of residents looking for more affordable housing while maintaining the lifestyle provided by a large urban centre. Situated on the edge of Lake Ontario halfway between the City of Toronto and Niagara Falls, Hamilton is nestled entirely within the Niagara Escarpment. The city is known as the waterfall capital of the world, with more than 100 waterfalls hidden in its rock ridge. Hamilton is surrounded by trails and conservation areas that attract locals and tourists alike.

Hamilton, which was once known as a major port city, has undergone a transformation Source: Tourism Hamilton, tourismhamilton.com 2019 with respect to industry and the manufacturing sector, bringing about new and unique employment and business opportunities to the city. This rebirth of industry, paired with the rapid pace of residential price growth in Toronto, has started a residential renaissance in Hamilton. 71 Rebecca Street represents a development opportunity to create a unique, mixed-use community and a destination within a growing Downtown Hamilton in terms of population and affluence. This 0.78-acre parcel is situated in Hamilton’s downtown core and is within walking distance of the Hamilton GO Centre Station and the West Harbour GO Station, allowing easy access to other regional transit hubs, including Toronto. Furthermore, the future transit accessibility for this location is favourable, as it lies within a 5-minute walk of the future Hamilton LRT, a $1 billion route that is expected to be completed by 2024. The Source: Tourism Hamilton, tourismhamilton.com 2019 Hamilton LRT will run through Downtown Hamilton and will connect with Hamilton Street Railway service and multiple GO bus and train routes. The ability to access local amenities and attractions within walking distance is another paramount characteristic of 71 Rebecca Street. It is located within a short walking distance to the Hamilton Downtown Family YMCA, the Hamilton Convention Centre and the Hamilton Public Library. These services and institutions are complimented with an abundance of retail, commercial and dining amenities that line the culturally historic James Street and King William Street. The Property is located a short distance to many local commercial and retail amenities, art and culture events, and community markets.

DEMOGRAPHICS Source: Hamilton Tourism Board, tourismhamilton.com 2017 The area surrounding the Site has a strong concentration of young to middle aged residents with more than 41.9% of people living within 3 km of the Property aged 20- 44. The majority of people in the surrounding area rent their housing, as opposed to owning, which is an indication of a concentration of rental accommodations and the lack of available properties for purchase in this neighborhood. The population in the immediate 1 km radius of the Property grew 3.3% between 2013-2018 and is expected to grow another 3.3% between 2018-2023. The income growth is also expected to rise substantially.

PROFILE 1 KM RADIUS 3 KM RADIUS HAMILTON Source: CBC, cbc.ca 2015 2018 Estimated Population 22,060 104,128 796,312 Population Change (2013-2018) 0.6% 1.1% 5.0% Population Change (2018-2023) 3.2% 1.4% 4.1% 2018 Median Age 37 38 41.3

2018 Total Census Families 4,375 24,411 218,446 2018 Average HH Income $ 47, 6 6 3 $64,095 $102,881 Owned Dwellings 2,354 (20.1%) 20,106 (40%) 220,770 (70.2%) Rented Dwellings 9,367 (79.9%) 30,194 (60%) 93,652 (29.8%) Source: Tourism Hamilton, tourismhamilton.com 2019 19 ACCESSIBILITY

PUBLIC TRANSIT

Rebecca Street is well serviced by a number of bus routes that connect the Site to the Hamilton Street Railway (HSR) bus network. The HSR has more than 30 routes that provide convenient access to different locations around Hamilton, as well as other communities including Ancaster, Stoney Creek, Waterdown, and Burlington. Regional Transit is available through both West Harbour GO Station and Hamilton Centre GO Station. West Harbour GO Station is less than a 10-minute walk or a 5-minute drive, and connects Hamilton to Toronto.

The City of Hamilton and Metrolinx are scheduled to begin construction on a 17-stop, 14-kilometer LRT that will run through downtown Hamilton along Main Street, King Street, and Kingston Road starting at McMaster University in the west and terminating at Eastgate Square in the east. Construction on the project is scheduled to begin in 2019 and completed by 2024.

John C. Munro Hamilton International Airport is approximately 15-20 minutes away from the Property and features flights to locations across Canada, the United States, Mexico and the Caribbean.

SUBJECT PROPERTY

21 LRT

Source: City of Hamilton, hamilton.ca 2019

SUBJECT PROPERTY

Source: Metrolinx, metrolinx.com 2019 20 REGIONAL AND HIGHWAY ACCESS

71 Rebecca Street is excellently positioned in close proximity to Highway 403, which connects Mississauga and Woodstock Ontario. Highway 403 is less than 2.5 km from the Site, connecting it to Ontario’s network of 400 series highways and various destinations within the Greater Golden Horseshoe Region and the Greater Toronto Area accessible in suitable drive times. The Queen Elizabeth Way (QEW) is also conveniently located under 10 km (12-minute drive) from the Site. The QEW connects Hamilton and Toronto, in addition to Niagara Falls and the Canada/U.S. border. Source: Stouffville Review, stouffvillereview.com 2017

DESTINATION DRIVE TIME

Hwy 403 5 min

McMaster University Main Campus 8 min

Hwy 401 20 min

Hamilton Airport 20 min

Pearson International Airport 35 min

Toronto Downtown 40 min

Niagara Falls 40 min

Canada-U.S.A. Peace Bridge 50 min w COMMUNITY

Source: Tourism Hamilton, tourismhamilton.ca, 2019 Source: Google Earth, 2019 Source: Tourism Hamilton, tourismhamilton.ca, 2019 CF LIME RIDGE KING WILLIAM & JAMES STREET ART GALLERY OF HAMILTON RESTAURANT ROW • 1 Million sq. ft. • 290,000 visitors per year • 213 stores • Over 20 restaurants • Collection of Canadian historical • Hudson’s Bay, Coles, Fossil, • Street scape is defined by restored and modern art, as well as, Euro- Bowring 19th century brick buildings pean historical art

21 COMMUNITY

SCHOOLS DISTANCE FROM SITE McMaster University Centre for 0.4 km Continuing Education Dr. J. E. Davey Elementary School 0.5 km

McMaster University 0.6 km

Jackson High Alter Education School 0.8 km McMaster University

Sir John A. MacDonald Secondary School 0.9 km Source: McMaster Univerity, mcmaster.ca 2019 Central Public School 1.2 km

Bennetto Elementary School 1.2 km

Hess Street Public School 1.3 km

Cathedral High School 1.6 km

Cathy Wever Elementary School 1.9 km

Mohawk College 3.4 km

Hillfield Strathallan College 4.4 km

NEIGHBOURHOOD AMENITIES Mohawk College

The Site is ideally situated in a commercially dense area providing Source: Mohawk College, mohawkcollege.ca 2019 a vibrant arts scene, great shopping and stunning nature – all within the city’s historic downtown core. Retailers, concert halls, and government facilities occupy the dense downtown space offering substantial pedestrian and vehicular traffic. Within a 1 km radius of the subject Property, the Downtown Business and Entertainment core of Hamilton occupies a network of urban space with extensive investor/user opportunity.

Community residents have access to the newly renovated state- of-the-art Public Library and Hamilton Farmers’ Market in the Downtown Core that has created a vibrant space for public- use. Boutiques and unique storefronts serving Hamilton’s vintage inspired Canadian fashion; mixed media for eclectic art Juravinski Cancer Hospital enthusiasts; and beautiful outdoor playgrounds and waterfalls are all within minutes of the downtown centre. Source: Zeidler, zeidler.com 2019

HAMILTON HEALTH SCIENCES Hamilton is home to 7 state-of-the-art hospitals including Ju- ravinski Cancer Hospital, Hamilton General Hospital, McMas- ter Children’s Hospital and McMaster University Hospital. The city attracts medical professionals and students who contribute to the growing body of medical research. McMaster and Mo- hawk College have dedicated significant resources to the development of the medical field, which made Hamilton a major hub for Health Science education, research, and application.

McMaster Children’s Hospital

Source: Hamilton Health Sciences, hamiltonhealthsciences.ca 2019 22 Subject site - 71 Rebecca Street

SCHOOLS ARTS AND ENTERTAINMENT PARKS AND TRAILS

1 McMaster University Downtown Campus 10 Hamilton Convention Centre 17 Gore Park

2 Mohawk College 11 Art Gallery of Hamilton 18 Highland Gardens Park

3 Hillfield Strathallan College 12 FirstOntario Centre 19 Bayfront Park and Trail

4 McMaster University 13 Whitehern Museum 20 Victoria Park

14 Dundurn Castle 21 Rebecca Street Park SERVICES 15 Theater Aquarius 22 Beasley Park

5 Hamilton Downtown Family YMCA 16 Royal Botanical Gardens 6 John Sopinka Courthouse 7 Hamilton City Hall 8 Hamilton Farmer’s Market

9 Hamilton Central Public Library

12 9 8 21 22 11 1 10 15 7 6 13 5 17

3 2

23 MARKET OVERVIEW

24 05 25 HOUSING MARKET // MARKET OVERVIEW

ACTIVE DEVELOPMENTS

1 2 3 4

RESIDENCES OF ROYAL - PHASE 1 RESIDENCES OF ROYAL - PHASE 2 BEASLEY PARK LOFTS TELEVISION CITY - TOWER 1 Spallacci Homes Spallacci Homes Lamb Development Developer Developer Developer Stinson Properties Developer and Valery Homes and Valery Homes Corp. Open Date 06-06-14 Open Date 20-08-16 Open Date 19-11-16 Open Date 13-05-17 Occupancy 01-06-17 Occupancy 01-10-18 Occupancy 01-09-21 Occupancy 01-01-23 Total Units 139 Total Units 91 Total Units 240 Total Units 353 Units Released 139 Units Released 91 Units Released 240 Units Released 353 Units Sold 139 Units Sold 82 Units Sold 137 Units Sold 283 Original $PSF $409 Original $PSF - Original $PSF $349 Original $PSF $623 Current $PSF $809 Current $PSF $547 Current $PSF $531 Current $PSF $639

5 6 7 8

TELEVISION CITY - TOWER 2 JAMESVILLE LOFTS PLATINUM CONDOS KIWI CONDOS ON KING WILLIAM Lamb Development Areacor Coletara Developer Developer Developer Developer Rosehaven Homes Corp. Developments Inc. Development Open Date 14-03-18 Open Date 25-11-17 Open Date 07-07-18 Open Date 01-02-23 Occupancy 01-07-23 Occupancy 01-09-20 Occupancy 01-10-21 Occupancy 01-02-23 Total Units 268 Total Units 40 Total Units 296 Total Units 266 Units Released 268 Units Released 40 Units Released 286 Units Released 266 Units Sold 149 Units Sold 32 Units Sold 286 Units Sold 160 Original $PSF $601 Original $PSF $583 Original $PSF - Original $PSF $619 Current $PSF $596 Current $PSF $699 Current $PSF $550 Current $PSF $622

26 APPROVED DEVELOPMENTS

ADDRESS DEVELOPMENT NAME DEVELOPER STOREYS UNITS 9 20-22 GEORGE ST 20/22 GEORGE STREET VRANCOR DEVELOPMENTS 32 230 10 46 JAMES ST N WILLIAM THOMAS RESIDENCE LiUNA 21 159 11 43-51 KING ST. E KING & HUGHSTON LiUNA 30 525 12 225 JOHN ST S CORKTOWN PLAZA SLATE ASSET MANAGEMENT 31 & 34 792 BROOKLYN CONTRACTING INC / 13 154 MAIN ST E MAIN & WALNUT 25 267 VRANCOR DEVELOPMENTS

14 64 MAIN ST E THE OXFORD ROCKWATER GROUP 18 183 15 354 KING ST W KING & QUEEN VRANCOR DEVELOPMENTS 10 & 6 203

HUE DEVELOPMENTS / 16 98 JAMES ST N THE CONNOLLY 30 269 INVESTMENTS CANADA LTD 17 108 JAMES ST N TIVOLI CONDOS DIAMANTE INVESTMENTS 21 106 18 112-117 KING ST E ROYAL CONNAUGHT PHASE 3 & 4 SPALLACCI GROUP/VALERY HOMES 33 & 36 491

15 17 16 3 7

9 10

11 5 4 1 2 8 18 14

27 OFFERING PROCESS

28 06 29 OFFERING PROCESS

MEMORANDUM CONTENTS GROUP INC. and the Advisor undertake no obligation to provide the recipient with access to additional information. This Offering Memorandum (“OM”) is being delivered to prospective purchasers to assist them in deciding whether they OFFERING PROCESS wish to acquire the Property. This OM does not purport to be all-inclusive or to contain all the information that a prospective SONOMA DEVELOPMENT GROUP INC. has adopted purchaser may require in deciding whether or not to purchase a negotiated transaction process. Based on information the Property. This OM is for information and discussion purposes contained in this OM and other information that may be made only and does not constitute an offer to sell or the solicitation available upon request, interested parties are invited to submit of any offer to buy the Property. The OM provides selective a proposal that addresses the requirements outlined under information relating to certain of the physical, locational and “Submission Guidelines”. financial characteristics of the Property.

The information on which this OM is based has been obtained from various sources considered reliable. Neither the Vendor nor the Advisors make any representations, declarations Submissions should be directed electronically to: or warranties, expressed or implied, as to the accuracy or completeness of the information or statements contained c/o CBRE Limited, Brokerage herein or otherwise and such information or statements 2005 Sheppard Avenue East, Suite 800 should not be relied upon by prospective purchasers without Toronto, Ontario, M2J 5B4 independent investigation and verification. The Vendor and the Advisors expressly disclaim any and all liability for any Attention: Brett Taggart, Brad Walford, Sean Comiskey, errors or omissions in the OM or any other written or oral Casey Gallagher, Tristan Chart communication transmitted or made available to prospective purchasers. Prospective purchasers should conduct their own independent investigation and verification of the information provided herein, and should seek legal, accounting, tax, engineering or other advice as necessary.

If any information relating to the Property, in addition to the information provided in this OM, is provided at any time, orally or otherwise, by the Vendor and/or the Advisors or anyone acting on their behalf, such information is provided as a convenience only without representation or warranty as to its accuracy or completeness and such information should not be relied upon by prospective purchasers without independent investigation and verification.

The terms and conditions in this section with respect to confidentiality and the disclaimer contained under the heading “Memorandum Contents” relate to all sections of the OM as if stated independently therein. The division of the OM into sections, paragraphs, sub-paragraphs and the insertion or use of titles and headings are for convenience of reference only and shall not affect the construction or interpretation of this OM.

The OM shall not be copied, reproduced or distributed, in whole or in part, to other parties at any time without the prior written consent of SONOMA DEVELOPMENT GROUP INC. It is made available to prospective purchasers for information purposes only and upon the express understanding that such prospective purchasers will use it only for the purposes set forth herein. In furnishing the OM, SONOMA DEVELOPMENT

30 DATA ROOM • Functional Servicing and Stormwater Management Report

• Statutory Declaration and By-Laws • Environmental Reports

• Salvage Report • Tree Inventory and Preservation Plan

• Approved Plans • Survey

• Lease • City of Hamilton Incentive Programs

• Urban Design Brief • Hamilton Light Rail Transit (LRT) Overview

• Wind Study • Tax bill

• Traffic Report • Aerials

• Noise Impact Study • Renderings

SUBMISSION GUIDELINES SALE CONDITIONS

Proposals will be considerd on a future date to be communicated The Property and all fixtures included are to be purchased on by the Advisor. The proposal should include the following an “as is, where is” basis and there is no warranty, express elements: or implied, as to title, description, condition, cost, size, merchantability, fitness for purpose, quantity or quality thereof • Purchase price; and without limiting the foregoing, any and all conditions or • Transaction Timelines (APS Negotiation, Due Diligence, warranties expressed or implied will not apply and are to be Closing); waived by the purchaser. • Name of the ultimate beneficial Owners of the partner/ Any information related to the Property which has been or will purchaser; and be obtained from SONOMA DEVELOPMENT GROUP INC. or the Advisor or any other person, by a prospective partner/ • Evidence of the partner/purchaser’s financial ability to purchaser, has been prepared and provided solely for the complete the transaction, including the method of financ- convenience of the prospective partner/purchaser and will not ing the transaction. be warranted to be accurate or complete and will not form part of the terms of an agreement of purchase and sale unless SONOMA DEVELOPMENT GROUP INC. reserves the right to expressly agreed to in the binding purchase and sale agreement remove the Offering from the market and to alter the offering between Vendor and purchaser. process described above and timing thereof, at its sole and absolute discretion. ADVISOR The Advisor is acting solely as agent for the Owner and not as agent for the purchaser. All inquiries regarding the Property or any information contained in this OM should be directed to CBRE Limited, Brokerage, as Advisor for the Owner.

31 Brett Taggart* Sales Representative 416 495 6269 [email protected]

Brad Walford* Vice President 416 495 6241 [email protected]

Sean Comiskey* Vice President 416 495 6215 [email protected]

Casey Gallagher* Executive Vice President 416 815 2398 [email protected]

Tristan Chart* Senior Financial Analyst 416 815 2343 [email protected]

*Sales Representative

2005 Sheppard Avenue East, Suite 800, Toronto, Ontario M2J 5B4 T 416 494 0600 | F 416 494 6435

This disclaimer shall apply to CBRE Limited, Real Estate Brokerage, and to all other divisions of the Corporation; to include all employees and independent contractors (“CBRE”). The information set out herein, including, without limitation, any projections, images, opinions, assumptions and estimates obtained from third parties (the “Information”) has not been verified by CBRE, and CBRE does not represent, warrant or guarantee the accuracy, correctness and completeness of the Information. CBRE does not accept or assume any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from CBRE. CBRE and the CBRE logo are the service marks of CBRE Limited and/or its affiliated or related companies in other countries. All other marks displayed on this document are the property of their respective owners. All Rights Reserved. Mapping Sources: Canadian Mapping Services [email protected]; MapPoint, DMTI Spatial, Environics Analytics, Microsoft Bing, Google Earth