Hamilton is the tech city of the future
Hamilton may be best known as a steel city – a moniker it may never shake, given the industry is still alive and well here. But here’s a more modern nickname for you – tech town.
The city of 536,917, located at the west end of Lake Ontario in the Niagara Peninsula and along the Niagara Escarpment, was recently ranked as one of the top tech cities in North America for “opportunity.”
Commercial real estate services and investment firm CBRE rated Hamilton number two, citing a tech scene that has grown by 52 per cent over the last five years. This, in addition to naming it Canada’s fastest growing mid-sized city for tech talent in 2018.
“Hamilton’s tech scene is growing rapidly and new spaces, ideas, and collaborations are putting ‘Innovation to Work’ each day,” says Judy Lam, the City’s acting director of economic development. “Requests for brick and beam office space are flooding in to our office and we are working to attract and retain this creative class in Hamilton – which a ranking such as this one will greatly assist in such an endeavour.”
This reputation may be slightly unfamiliar to some, but homebuyers have known the city has been transitioning for years.
City on the highrise
Indeed, a quest for single-detached housing at affordable prices has sent throngs of buyers from the Toronto area to Hamilton over the past decade, ReMax Canada confirmed in a recent report.
While more affordable lowrise homes may have encouraged GTA buyers to head west, it may be the stellar performance of the highrise sector that keeps them here. See, for example, how healthy the price growth in Hamilton is for condos, as compared to that for all housing types.
Developers, meanwhile, are catering to the growing demand for highrise housing in the city. Rosehaven Homes’ KiWi Condos is among the signature projects underway in the city. More are to come, particularly as nearby Burlington is putting the brakes on such development in its downtown area.
It’s not just about homebuying opportunity in Hamilton, however. From educational institutions such as McMaster University and Mohawk College, to exhibits such as the Canadian Warplane Heritage Museum, to historical landmarks such as Dundurn Castle, there’s plenty to enjoy in and around the city.
For sports fans, there’s the city favourite Hamilton Tiger-Cats of the Canadian Football League, who play out of the new Tim Hortons Field, as well as the Hamilton Bulldogs of the Ontario Hockey League, playing out of FirstOntario Centre, formerly Copps Coliseum.
Hamilton is also benefiting nicely from the billions being spent on transit and highway infrastructure improvements in the province, allowing residents to live there and easily get around the city or travel into surrounding areas.
All of this further positions Hamilton and its residents to enjoy its rising stature as a tech town, and a place to be now and in the future.
Location, location, location
Located in the Golden Horseshoe at the west end of Lake Ontario; population of 536,917; 68 kms from Toronto, 73 kms to Niagara Falls.
• Canadian Football Hall of Fame
• Canadian Warplane Heritage Museum
• Dundurn Castle
• FirstOntario Centre
• Hamilton Museum of Steam & Technology
• Tim Hortons Field