Hamilton 92 John Street North | 104.5m | 31s | Emblem Developments | Studio JCI

[innsertnamehere]

In this market, slim.

 

[TheHonestMaple]

Agreed. So this one probably won't be breaking ground until 2026 at the earliest.

 

[Chris R.]

Bets on when this one breaks ground? What's the chances this and 41 Wilson are under construction at the same time?

I'd give it a solid 0%

 

[BrenWilson]

Unless they shift to rental and can secure some government loan/supports, yeah they'll sit on this.

 

[Chris R.]

Unless they shift to rental and can secure some government loan/supports, yeah they'll sit on this.

Rental would be the only path forward at this point for many developments. Hamilton rents continue to skyrocket and condos aren't even selling in Toronto, nevermind Hamilton.

 

[BCTed]

Rental would be the only path forward at this point for many developments. Hamilton rents continue to skyrocket and condos aren't even selling in Toronto, nevermind Hamilton.

Rental prices are still very high, but are you sure they continue to skyrocket?
https://rentals.ca/national-rent-report
For August 2024:

 

[Chris R.]

Rental prices are still very high, but are you sure they continue to skyrocket?
https://rentals.ca/national-rent-report
For August 2024:
View attachment 590041

This is perhaps anecdotal because I pay a lot of attention to rent prices in my area as we own a duplex where we rent a unit in our house, but Hamilton has a lot of older rental stock that pulls down the average significantly, especially out east, and certain areas of the mountain. Downtown, updated units are renting for far more than that. Market rent on a new or updated unit in a desirable area on a 2bdrm can be as high as $2600ish. I've seen backdoors and 1bdrms rent as high as $2000/month.