A high-rise condominium development earmarked for a full city block of Hamilton’s Corktown neighbourhood is set to begin selling units at the end of next month.
Sales for the first phase of the 27-storey Corktown East Towers will start in May with prices likely beginning at the $300,000 mark, according to Slate Asset managing director Brandon Donnelly.
“So the idea here is to make the project as affordable and attainable as possible while still being luxurious,” Donnelly told 900 CHML’s Good Morning Hamilton.
“We’re fully aware of the Canadian landscape and the pressures around affordability … so we’re trying to to start the pricing in a way that addresses that.”
The development, purchased in 2017, is enclosed by Forest Avenue, as well as John, Young and Catharine Streets and just a few minute walk from the Hamilton GO Centre.
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A 27-storey tower and 14-storey mid-rise with retail is at the heart of the project.
More than 740 dwellings are expected on the plot of land via Corktown East, the 14-storey mid rise.
The second phase, a mid-rise building around 14 floors dubbed Corktown West, will feature at a yet to be determined date.
Corktown East will introduce studios, one bedroom, one plus den, two bedroom and two plus den suites ranging from 340 to 851 square feet.
Brick from some of the existing buildings are expected encompass part of the infrastructure which Donnelly says are ingredients Slate “really look for” when picking projects.
“There’s a walkable core, it’s connected with transit, there’s new investments in trends that are coming, there’s this wonderful stock of historic buildings, (and) a vibrant arts and culture scene,” Donnelly explained.
Slate is also set to develop a large piece of Hamilton’s industrial lands into a world-class industrial park following the acquisition last spring of some 800 acres of Stelco land and buildings deemed as surplus.
An Ernst and Young study suggests up to 23,000 new jobs will be created across the Greater Toronto & Hamilton Area (GTHA) through the development of 12 million square feet of industrial space and inject up to $3.8 billion into Ontario’s economy.
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