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Ontario passes housing bill, Bill 23
Carmen's Group acquired The Arlington Hotel and Dominion Telegraph Event Centre from The Other Bird.
This week witnessed adequate transaction levels as the year began to wind down.
This week's largest transaction occurred on Hamilton Mountain, where a sizable 72-unit multi-residential sold for $16.75 million ($232,000/unit).
This price is slightly above market value, and overall it's great to see a multi-residential transaction take place in Hamilton as it continues to hold the lowest capitalization rates.
Most of the remaining deals occurred in rural areas throughout the region, with the Arlington Hotel and Dominion Telegraph Centre in Paris standing out, selling at $6.2 million.
In the news, Ontario passed Bill 23, Adi Developments settled with a building regulator, and RBC will buy HSBC Canada in a record-breaking domestic banking deal worth $13.5 billion.
Ontario passes housing bill, Bill 23 amid criticism
CBC News, November 28, 2022
Up to $25 million per year in revenue foregone due to Bill 23, says Hamilton
The Hamilton Spectator, December 1, 2022
CEBL team Honey Badgers leaving Hamilton amid upcoming arena renovations
The Hamilton Spectator, November 28, 2022
Carmen's Group purchase Arlington Hotel and Dominion Telegraph Event Centre
Adi Developments settles with building regulator over Burlington Condo project
RBC to buy HSBC Canada for $13.5B – biggest domestic banking deal on record
The Globe & Mail, November 29, 2022
Government land needed to solve shortage of warehouse space
Canada wants to welcome 500,000 immigrants per year to 2025 – Can our country keep up
Auditor General: Ontario's real estate regulator is ineffective
in Editorial, Latest News, Weekly Market Report Newsletter Posted by Jennifer
Forge & Foster Brings an Exciting Development to Canada's Prettiest Town
Paris, ON – Forge & Foster Investment Management
Hamilton-based Forge & Foster Investment Management is launching an exciting new development in "Canada's prettiest town," The Walker Press located in Paris, Ontario.
With an eye for identifying properties with distinct character and a unique history, Forge & Foster acquired the exquisite Walker Press building in 2020.
The Walker Press will be restored into a multi-use, commercial facility that will richly contribute to the growing community of culinary and craft-goods experiences in experience in Paris.
Located on 3 Yeo Street, with the oldest portion of the structure – the Maxwell wing – built in 1872, The Walker Press (est. 1910) moved into the Penman Wing in 1915.
Expanding into the Maxwell wing in 1920, connecting the two buildings in the process, they operated for over 60 years, printing everything from gift coupons to royal portraits.
With its proximity to the historic downtown district of Paris, surrounded by thriving densification projects, and rooted in a destination that is only a short drive from the urban centres of Toronto, Hamilton, Kitchener-Waterloo and Cambridge, The Walker Press is the perfect location for multiple emerging businesses ranging from culinary and retail, to office and light-industrial.
"Paris is a beautifully historic town and an incredible destination, we are thrilled to play a role in reviving this property and writing its next chapter,"
said Ben Ames, Partner and CIO.
"The Walker Press will be an idyllic and innovative setting for a new generation of Paris-based businesses. A perfect setting for emerging industries and employment opportunities in 'Canada's prettiest town,'"
said Joe Accardi, Partner and CEO.
Forge & Foster greatly acknowledges and thanks The Paris Museum & Historical Society for all their support in understanding the background of The Walker Press.
About Forge & Foster Investment Management
Forge & Foster is an investment and asset management firm, committed to delivering optimal returns for its investors and partners through inventively restoring and growing communities across southern Ontario.
This is done through unique property-asset investment, development, relationship and business support initiatives, including revisioning spaces, capitalizing on emerging markets and models, and forecasting future trends and opportunities.
Forge & Foster are the masterminds behind projects like the restoration of 1 West Ave. and The Ironwood, two of Hamilton's premiere, artfully restored, vintage office buildings.
Current initiatives include leading developments in Hamilton's up-and-coming Innovation District, cultural live-work spaces in the urban centres of each Hamilton, Brantford, and Cambridge, film industry spaces in Hamilton's Hollywood North corridor, and tiny-homes projects in the beautiful, up-and-coming Goderich/Bluewater region.
in Editorial, Media Posted by Jessica Wright