Alex Manojlovich's Weekly Market Report: Dundas seniors housing demolition for 11-storey condo proposed
Forge & Foster Investment Management
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This week witnessed a subpar amount of transitions. It appears the CRE markets are feeling the impact of increased interest rates in what is already traditionally the slowest month of the year.
The largest transaction for the third consecutive week was a?Hamilton?residential land sale.?Cedar City Developments?purchased 31 acres of land on?Stoney Creek?mountain near Elfrida for $15.4 million ($487,000/acre).
Hamilton hasn't witnessed a?multi-residential?transaction in the month of September. This is notable as the city hasn't gone a month without a multi-residential transaction since November of 2021. However, September transactions are still trickling in. In addition, multi-residential remains arguably the strongest asset class, and rental rates continue to escalate as more home buyers are removed from the market with rising interest rates.
In the news, the proposal for an 11-storey condo tower includes plans to demolish?Dundas?seniors housing, the?Hagersville?quarry project explained, and the Ontario government is investing $90 million into skilled trades programs.
We're moving! Sept. 28?was?Forge & Foster's last day at 67 Frid St. As of Oct. 11,?our new address will be: 29 Harriet St. Hamilton, ON L8R 2E5
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News Headlines
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Sr Key Account Manager at Dawn Foods Global
2 年On Cedar deal was it part of the secondary plan in elfirda ?