Hamilton is the high tech city of the future
by Wayne Karl
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 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 in 2019, 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.
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 lowrise housing at affordable prices has sent throngs of buyers from the Toronto area to Hamilton over the past decade.
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 other types.
Developers, meanwhile, are catering to the growing demand for highrise housing in the city. And in the coming weeks, a major new master-planned community in the city’s east end will be announced. A consortium of local builder and development partners and the City plan to revitalize an aging neighbourhood by creating a new community of subsidized and market rental apartments, plus condominium townhomes priced well below Hamilton and GTA market values. It is said to be one of Hamilton’s biggest-ever inner-city developments and a tribute to inclusivity and diversity.
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.
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 to 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
Golden Horseshoe at the west end of Lake Ontario; population of 536,917; 68 kms from Toronto, 73 kms to Niagara Falls.
• Canadian Warplane Heritage Museum
• Dundurn Castle
• FirstOntario Centre
• Hamilton Museum of Steam & Technology
• Tim Hortons Field