The City of Hamilton’s population is projected to grow to 660,000 by the year 2031 and the city has began to prepare numerous Hamilton economic development projects to transition into a prosperous future.
Sustainability and tying Hamilton’s rich history with the promise of a prosperous future are common themes in these ongoing projects. The city will continue to look at Hamilton’s economic development as an opportunity to knit together the community with their neighbours, while continuing to preserve their own unique history in the Golden Horseshoe.
Here are five Hamilton economic development projects to anticipate in the next few years.
1. The Confederation GO Station
Scheduled to open in 2019, the Confederation GO Station is a much needed addition for Hamilton’s economic development. The station will provide easier access for commuters while at the same time providing them with a safe and comfortable environment in and around the station. The GO Station will feature a ticket sales area, a waiting area with shops, an island platform with a pedestrian tunnel for safe access to both side of the corridor, an accessible platform with elevators, and vehicle and bike parking. Travelling to and from Hamilton has never been easier. Source
2. Fraunhofer Project Center for Biomedical Engineering and Advanced Manufacturing (BEAM)
Founded in 1887, McMaster University’s students continue to thrive in the academia world, but now McMaster is able to boast over a new endeavour. On March 11, the university, partnered with the City of Hamilton and a German research organization, opened their door to a $33-million biomedical research center, also known as BEAM.. The city is encouraging biomedical companies to move to the Hamilton area so they can take advantage of the facility and anticipates the center’s success in transitioning scientific research into commercial availability. Source
3. Downtown Secondary Plan
Hamilton’s Economic Development has continued to make strides with the proposed Downtown Secondary Plan. The Plan recognizes the value in the City of Hamilton’s history and aims to preserve the past they are built upon while continuing to invest in the future. The restoration of historical sites, strengthening the connecting neighbourhoods, the Waterfront, the Escarpment, and other attractions, and the promotion of downtown living will take the front seat in the Secondary Downtown Plan with a sustainable growth as the frontrunner behind the Plan. The city recognizes the importance of the overall culture Downtown Hamilton provides and will adapt a holistic attitude that focuses on continuing to improve the overall well being of present and future occupants, employees, and business owners in the area. The plan contains four of the downtown neighbourhoods including Beasley, Central, Corktown and Durand. Source
4. Mohawk College’s Energy Grant
Mohawk College will receive a $10.8 million grant for energy retrofit projects and the school has big plans. Over the next couple of years, their plan is to become energy self-sufficient through the use of their recently installed solar panels and an electric boiler, and eventually, to the installation of a solar powered car park. The college estimates to cut their greenhouse gas emissions by nearly 25%, while saving nearly $350,000 in their energy costs. Under these new upgrades, Hamilton’s economic development will thrive as students begin to turn to facilities that continue to take an active interest in their environmental responsibilities. Source
5. ‘Healthy Food for All’
The City of Hamilton has introduced a 10 year plan to promote healthy eating to the residents of Hamilton and improving access for healthier options. This plan is exploring many options to improve the livelihood of residents, including a food terminal for local farmers, community kitchens, and healthy alternatives to the food choices offered in community centers. The main goal is to improve public health while advocating for sustainability in agricultural systems. There will be plenty of opportunities for innovation in the upcoming years and Hamilton’s economic development will strengthen with their residents. https://www.thespec.com/news-story/8288816-add-healthy-food-for-all-to-city-s-vision-for-hamilton/
With these intended improvements, the appeal to students and Canadians looking to settle down will draw them to the Hamilton area. The Town of Hamilton is continuing to seek out new investment opportunities for residents to increasing the livelihood of current and future residents.
Hamilton’s real estate market is going to continue to blossom as the economy continues its growth. Average sale prices have already risen by nearly 10%, to an average of $478,000. Experts are expecting a return to the “multiple offers situations” throughout the year.
With new investments continuingly being proposed, there has never been a better time to take advantage of Hamilton’s real estate market, for you and your family.