Hamilton 46-48 Ferguson Avenue South | 96.5m | 29s | Hi-Rise Group | Graziani + Corazza

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Shoring rig on site here.
 
FF407 said:
How many floors, if any of underground flooring is there here?
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The latest publicly available plans showed 2 underground levels, so this should be above-grade relatively quickly compared to LiUNA's other buildings (King William and 75 James), both of which had 4 levels of underground.
 
I guess this building, Television City, and the Core Urban building at Barton and James are the only remaining large developments that are under construction, but not topped out. I wonder what the next groundbreaking will be.
 
There was talk that with inflation and with a tanking real estate market, that all new builds that didn't already start were going to be delayed or cancelled.
That doesn't seem to be the case.
 
berklon said:
There was talk that with inflation and with a tanking real estate market, that all new builds that didn't already start were going to be delayed or cancelled.
That doesn't seem to be the case.
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As I've said in other threads, the market for rentals in Hamilton continues to have steady demand. Prices have stalled essentially, but with rentals that's perfectly fine for a few reasons;

1) Market rents right now still justify construction in certain cases.

2) Rentals are sometimes cash flow negative their first few years and that's fine.

3) Rental increases are no longer capped, and with favourable tax treatment they are the obvious choice right now, and are seemingly still viable.

4) Hamilton has shown itself as a legitimate desirable place to live. Unlike Brantford that basically reset to 20 years ago during COVID, Hamilton maintained its trajectory and more businesses continue to open downtown, and more people continue to move downtown.

I suspect all new projects will be rentals moving forward for the foreseeable future, but I do think there is still demand.
 
Chris R. said:
As I've said in other threads, the market for rentals in Hamilton continues to have steady demand. Prices have stalled essentially, but with rentals that's perfectly fine for a few reasons;

1) Market rents right now still justify construction in certain cases.

2) Rentals are sometimes cash flow negative their first few years and that's fine.

3) Rental increases are no longer capped, and with favourable tax treatment they are the obvious choice right now, and are seemingly still viable.

4) Hamilton has shown itself as a legitimate desirable place to live. Unlike Brantford that basically reset to 20 years ago during COVID, Hamilton maintained its trajectory and more businesses continue to open downtown, and more people continue to move downtown.

I suspect all new projects will be rentals moving forward for the foreseeable future, but I do think there is still demand.
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That only applies for buildings built after Nov 15, 2018 I believe - rent caps still apply for the majority of rentals - 2.5% for 2025 and 2.1% for 2026 I believe.. you nearly gave me a heart attack there for a second lol..

And there is definitely demand..
 
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