An international developer of industrial warehouse space has purchased 82 acres of land near Hamilton’s airport.
Panattoni Development Company became the first major investor in Hamilton’s Airport Employment Growth District with its $27-million land purchase.
Glen Norton, the City of Hamilton’s general manager of economic development, said a site plan could be submitted to the city’s planning department this month.
Norton added that Panattoni plans to construct a one-million-square-foot building at Upper James Street and Dickenson Road, targeting companies that require big distribution facilities such as Amazon, Wayfair and Canadian Tire.
The property is large enough for five or six buildings, he said.
“(Panattoni) would actually like to have a building permit and be in the ground next spring,” Norton said.
The main factor driving investment to the area, he added, is its access “right to the airport runway.”
The project could generate millions of dollars for the city through its development costs, and Norton is hopeful that others will follow suit and look at Hamilton’s industrial parks as an investment opportunity.
“People like to watch other people’s success and then learn from it,” he said.