We’ve written about the healthy state of the Hamilton real estate market, outlining its robust sales growth as well as the new infrastructure improvements coming to the immediate area of The Connolly, located at 98 James Street South.
But the benefits of calling Hamilton home, or investing in real estate in the city, don’t end there. Hamilton is on the upswing and is seeing population growth as it continues building upward. In 2013, non-residential construction was a major economic driver in the city as new commercial and industrial spaces sprang up.
Though the city is known for steel, it’s creating a wealth of work in the knowledge sector, with expanded educational and health institutions. The Connolly, a new mixed-use project by Stanton Renaissance, is right around the corner from McMaster University’s new downtown health campus, currently under construction at Main and Bay St.
The space will be home to the City of Hamilton’s Public Health Services, McMaster Maternity Centre, the research and the offices of Family Medicine, Continuing Health Sciences Education and the Program for Educational Research and Development. Altogether, the facility will host 54,000 annual patients, 4,000 McMaster students and 450 staff members.
It’s an impressive expansion plan for a popular university that is already home to 25,174 undergrads and 4,237 graduate students.
St. Joseph’s Healthcare Hamilton, a teaching hospital, also calls James Street South home in The Connolly’s neighbourhood. The facility is expanding its reach with the redevelopment of the Hamilton Psychiatric Hospital, situated at 100 W 5th St. The project will establish the Margaret and Charles Juravinski Centre for Integrated Healthcare, a 855,325-square foot facility that will come equipped with 305 beds by 2016.
Another leader in the life sciences is just a five-minute drive away. Hamilton General Hospital, one of the seven branches of Hamilton Health Sciences, is located on nearby Barton Street East. Hamilton Health Sciences is the second largest hospital group in Ontario and, thanks to its 11,000 employees, is the largest employer in the Hamilton region. Affiliated with both McMaster University and Mohawk College, Hamilton Health Sciences is grounded in the post-secondary community of the city.
McMaster University’s Innovation Park, a work-in-progress, will feature over 1.7 million square feet of office, research and amenity space for some 3,000 occupants. The Canadian Research Park is a hub of innovation, attracting teams of engineers, social scientists, and other knowledge workers to the city.
Also just a five-minute drive away from The Connolly, Mohawk College has a student population of 12,500 and has ranked number one among colleges in the Greater Toronto and Hamilton Region for the last four years in a row.
Investors hoping for a solid rental market will be glad of the city’s large student population. The city is clearly undergoing a transformation, fuelled by education, innovation and expanding services in healthcare. For locals, new residents flocking to the city, or investors, The Connolly presents an opportunity to own a unique condo at a convenient address.
Other area perks include two GO Transit stations within walking distance. Seconds away, the Hamilton GO Centre includes both train and bus service as well as connections to the Hamilton Street Railway (HSR) buses for transit across town.
Currently under construction, the new James Street North GO Station will be just a 15 minute walk from the new mixed-use building and bring more commuter trains in and out of the city each day, with two trips to Toronto in both the morning and in the afternoon.
The mixed-use project by Stanton Renaissance will combine the historic heart of the James Street Baptist Church with Hamilton’s burgeoning future.
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