Hamilton
Brooklyn North
No longer a working class town, Hamilton has been re-envisioned as a modern city with a growing, diversified economy. No longer under the shadow of Toronto, Hamilton is evolving in a similar fashion as Brooklyn did to Manhattan – a city of excitement, creative energy and growing opportunities.
A New Hamilton Is Dawning
Hamilton is attracting a growing number of young professionals because of its affordability, vibrant culture, eclectic mix of neighbourhoods and world class amenities.
The city is positioned for a rapid expansion and smart investors can see what is coming.
Highlighting Hamilton:
- Housing in Westdale is in high demand
- Massive investments in infrastructure are happening
- Hamilton has a strong & diversified job market
- More connected than ever, Hamliton's public transit system is expanding
- Hamilton's population is growing fast
$140 Million Investment in
Hamilton's Waterfront
The vision for the redevelopment of Hamilton's West Harbour will transform the waterfront into a vibrant, mixed-use community.
$500 million Investment in entertainment
This investment will change the face of downtown by updating a variety of key venues including: FirstOntario Centre & Concert Hall.
$400 Million Investment in Internet service
This is the largest digital infrastructure investment in Hamilton's history and will bring 1.5 gigabits/second internet connectivity across the city.
Why is hamilton so hot?
Hamilton has parlayed its steel town legacy into a centre for advance manufacturing and innovation, embracing cutting edge science and technology. Home to world class universities, colleges and research centres, the city continues to attract new talent with a cost of entry that is very competitive to the other tech-centric cities in the region.
- Connected to the Core of Ontario's Population
Within a one hour drive of Hamilton is a workforce of over 2 Million people.
- 2nd Best Mid-Sized North American City for Investment
fDi Intelligence, a division of the Financial Times, ranked Hamilton as the 2nd best location in North America for investment. The city was also ranked 1st in the category of connectivity.
- A Well Educated and Trained Population
Hamilton is recognized as a model for economic and social transformation, and ranked one the top 7 “Most Intelligent Communities” globally by the Intelligent Community Forum (ICF)
In the News:
Over $1 Billion Investment in the City’s Infrastructure
An approval was given to enhance the City’s existing natural attractions. This investment opportunity will be used to redevelop open green space, including parks and
taking
the lead
$105 Million Investment in
Hamilton's health sciences
In 2022, HHS invested over $1 million in upgrading hospital equipment and medical research facilities.
$7.5 million Federal investment in Hamilton's culture & tourism
This investment will go toward 31 projects across Hamilton and surrounding communities.
$46.8 Million upgrade to
Hamilton's Airport
The Federal government has committed $23 million to the $46.8 million YHM gateway expansion project. This project is expected to create 1,830 full-time jobs.
A Strong Record of
Employment
Booming business and a highly skilled, well educated, workforce is keeping unemployment in the city at all time lows.
Employment and
a diversified economy
Attracting digitally-focused businesses, health science innovators and advanced manufacturing, the stage is set for Hamilton to become one of Canada’s most technologically advanced, diverse and innovative economies.
Low Unemployment Rate
Hamilton’s 4.5% unemployment rate is outperforming the Ontario average of 5.5% in the first quarter of 2023.
A Booming Creative Industry
30,000 Hamiltonians work in the creative industry, a total of 11% of the labour force. Hamilton is also home to the 3rd largest film industry in Canada.
2nd Best City for Young Workers
The Youthful Cities Urban Index ranked Hamilton as the second-best city for people aged 15 to 29 to work.
2nd Best City for Young Workers
The Youthful Cities Urban Index ranked Hamilton as the second-best city for people aged 15 to 29 to work.
Hamilton Health Services
Employing over 15,000 staff, Hamilton Health Services is the 2nd largest hospital network in Canada.
Hamilton Health Services
Employing over 15,000 staff, Hamilton Health Services is the 2nd largest hospital network in Canada.
Advance Manufacturing
The Advanced Manufacturing industry that has grown out of Hamilton’s blue collar roots is now a $12 billion industry contributing to 4% of Ontario’s total economy.
Growing Tech Industry
Hamilton has a booming
Population
Hamilton is building an inclusive community with an accessible environment that makes the city better for everyone.
Moving to Hamilton
Hamilton is an attractive and affordable location for both newcomers to the the country and Canadians leaving other areas of the province. As a result, the city is seeing an accelerated period of growth.
Increasing Immigration Targets
New immigration targets will see 7,500 immigrants moving to Hamilton each year until 2025.
Another 149K+ residents by 2041
Growing at 2x the historic average the city of Hamilton is predicted to increase its population by 149K+ by 2041, in part due to it being a more affordable alternative to the GTA.
Attracting People From Other Parts of Ontario
Intraprovincial migration led to 53K+ people moving to Hamilton between 2001 & 2021, the majority coming from York, Peel and other parts of the GTA.
Attracting People From Other Parts of Ontario
Intraprovincial migration led to 53K+ people moving to Hamilton between 2001 & 2021, the majority coming from York, Peel and other parts of the GTA.
Hamilton's Rate of Growth Is Increasing
- Predicted Growth of Hamilton City Population
Net Migration Rates into Hamilton Are Increasing
- Net Intraprovincial Migration
- Net International Immigration
Hamilton's proximity to Toronto and accessibility between both places are among the top reasons why people are choosing the city
A High Demand for
Housing
Hamilton’s historically undervalued market, paired with it’s close proximity to Toronto and rapidly growing economy has created a unique investment opportunity not found anywhere else in Southern Ontario.
Hamilton Real Estate
Fueled by unprecedented demand, Hamilton’s real estate market has exploded the last few years. Even with current market slowdowns, the average cost of housing remains above pre-pandemic levels.
- Billions In Building Permits Issued
Hamilton reported $1,856,371,964 in building permits for 2022. This is 87.2% of 2021’s record breaking permit values of $2,128,166,392 and 134.2% of 2020’s permit values.
- No New Housing Stock in Westdale in 40+ years
Westdale has an extremely low vacancy rate of 1.5%. Demand is at an all time high due to the lack of purpose-built apartment towers being developed.
- Hamilton is 25% More Affordable than the GTA
Current market rates are out-pacing buyers in the GTA. Hamilton’s condo market is on average 25% less that in the GTA, making the city an appealing alternative.
In the News:
Report says Hamilton could suffer economically if it doesn’t build more housing
Report says Hamilton could suffer economically if it doesn’t build more housing
Canadian universities are rushing to address critical shortage of student housing
A hot rental market across Canada is squeezing postsecondary students, with universities and private companies trying to meet growing demand with a mini-boom in residence
No New Housing stock in 40+ years
Westdale has not seen new housing in over 4 decades. Demand is at an all time high due to the lack of purpose-built apartment towers being developed.
14,500 New Homes Needed
Hamilton has a housing shortage of roughly 14,500 units. Needing to double its building rate, the province has given Hamilton a target of 47,000 units over the next decade.
600 People Waitlisted
McMaster also faces a lack of housing to accommodate students. Residence wait lists have been in the range of 100-600 students long.
1107 Main will be the first condo development in Westdale and is positioned to fill a huge gap in the community's housing market.
The Rental Market
Most new developments are happening in the downtown core while the west end has been largely ignored. Because of its proximity to downtown, consistently lower vacancy rates, and lack of modern housing, Westdale is a prime location for investment.
- Westdale Has a 1.5% Vacancy Rate
Westdale has the Hamilton’s lowest vacancy rate at 1.8% compared to the city’s average of 2.1%.
- Average Rents for Condo Apartments Are Going Up
The average rental rate for a 1 bedroom condo style apartment in Westdale is $1362 a 16.6% increase year over year.
Westdale's Vacancy Rates Are Consistently Better Than Downtown Hamilton
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With higher demand and rents, Westdale is the clear choice for investment.
Case Study:
Satisfying Housing Demand in Waterloo
At the end of the 1990’s, private investors recognized a housing shortage in the Northdale neighbourhood located between University of Waterloo and Wilfrid Laurier University.
In 2015 IN8 Developments introduced the first one bedroom condominiums to the area dramatically changing the market in the area.
- Condo rentals rates in the area increased from $950/month to $1450/month in just 3 years.
- Since 2015, IN8 Developments has maintained 0% vacancy rates across the entire portfolio.
- These condominiums continue to outperform the traditional accommodations in terms of rental growth and appreciation.
Hamilton today, is echoing the challenges that Waterloo once faced. A severe shortage of purpose-built housing during a period of ever-increasing demand are both attributing to Hamilton’s lowest rental vacancy rates and highest rents.
1107 Main is the first new condominium building in Westdale to address the area’s intense demand.
