The downtown core rejuvenation has brought with it a change in opinion about Hamilton from the general population in the GTA. Residential condo construction is attracting new retail businesses to the area, as well as redevelopment of existing buildings. The simplest way to show the growth in this area is by looking at the average sale price per acre in the downtown core. In 2014 the average price per acre was $5,575,000. Today, the average sale price per acre for development land in the core is $11,500,000. As an example, Emblem Group purchased a 1.6 Acre site of raw land in the downtown core at a price of $12,000,000 per acre. BBS is proud to have completed the largest downtown land transaction in 2021 with the sale of 4.47 Acres of High-Density Development lands. The average sale price of the transaction was $11.5M per acre.
Source: Internal data.