CBRE Limited (“CBRE “or “Advisor”) is pleased to offer for sale the Hamilton City Centre (the “Property” or “Site”), a major mixed-use development opportunity with potential for more than 1.7M sq. ft. of residential and commercial development on 3.54 acres of land along James Street North in the heart of downtown Hamilton. Originally named The Eaton Centre, the Property was built in 1990 by Cadillac Fairview. This landmark offering presents an extraordinary opportunity to acquire a major development parcel that is ideally positioned to address the significant demand for new housing and mixed-use space in Hamilton.
The Hamilton City Centre serves downtown Hamilton as a key community space with over 550,000 sq. ft. of enclosed commercial area. The Property is exceptionally well located, within walking distance of major transit, retail and employment nodes. The site is strategically located within the City of Hamilton’s Downtown Urban Growth Centre and is ideally situated to take advantage of the key policies of the Provincial Policy Statement, the Growth Plan for the Greater Golden Horseshoe, the Urban Hamilton Official Plan and the new Downtown Hamilton Secondary Plan, which promote intensification, redevelopment and compact built form, particularly in areas that are well served by public transit.
|Address||77 James Street North|
|Site Area||3.54 acres|
|James N Frontage||522 ft.|
|York Blvd Frontage||385 ft.|
|Leaseable Area||391,124 sq. ft.|
|Zoning||D1 Downtown Central Business District (west)
D2 Downtown Prime Retail Streets Zone (east)
|Official Plan||Downtown Urban Growth Centre
Downtown Mixed Use Area
1,782,363 developable square footage represents an exceptional opportunity.
Substantial Holding Income
Over $3,000,000 of holding income allows potential developers added flexibility during an entitlement process to maximize development potential.
Transit Access / Connectivity
Close proximity to GO Transit and Hamilton Street Railway provides easy access to locations throughout Hamilton and the GTA.
Rising Hamilton Marketplace
High-rise fundamentals have significantly improved. Strong price growth over 2017-2018 coupled with higher absorption rate since the beginning of 2017.
All but one of the existing leases benefit from a sale and demolition clause.
Ideal Downtown Hamilton Location
Within walking distance to McMaster Downtown Campus, City Hall, St. Joseph Hospital and numerous office complexes.
2005 Sheppard Ave E.
Toronto, ON, M2J 5B4