John MacNamara and Evan Apostol quarterbacked a major land assembly transaction in the downtown core totaling 3.6 acres, with an average of over $11M per acre.
The transactions, which saw the majority close in September 2021, include the sale of Philpott Memorial Church and its neighbouring lot, 58 York Blvd, and subsequent purchase of Lincoln Alexander Centre at 160/164 King Street East – the latter of which was co-brokered by Robert Miles – and 168 King Street East. The surrounding parking lot that fronts on both King and Main was acquired in this assembly.
“It was a unique assignment that had roadblocks show up at every corner over a three-year period,” Macnamara said. “In the end everyone walked away with what they started out to achieve, and for that we are very grateful.”
“Being involved in a deal that will have such a large positive impact on the city is truly an honour,” Apostol said. “While we encountered our fair share of challenges along the way during this journey, I truly believe the end result is a great step in the right direction for the continued development of the built environment of Hamilton as well as contributing to the growth and diversification of the Downtown Hamilton community as a whole.”
An additional transaction totaling over $10M was completed as well, which closed in June 2021.
These transactions are an addition to the ongoing revitalization of Hamilton’s Downtown Core, with an upswing of residential developments and new retail opportunities.
The sale was the largest land deal in Downtown Hamilton for 2021, according to Real Track, and Blair Blanchard Stapleton Limited’s largest done deal overall for 2021.
Apostol and MacNamara were two of Blair Blanchard Stapleton Limited’s top producers for 2021, transacting a collective $165M in both sale and lease deals of all asset classes, according to Blair Blanchard Stapleton Limited internal data.
“2020 was a remarkable year for the City, as well as my career in terms of growth,” MacNamara adds. “2021 has surpassed that and this land assembly transaction was a major part of it.”
John MacNamara can be reached for comment at 289.244.6096 or email@example.com, and Evan Apostol can be reached at 905.527.1144 ext. 300 or firstname.lastname@example.org.