A number of announcements this year have positioned both Niagara and Hamilton as places to grow. While Hamilton can call itself one of the most desirable economic centres for development in the country, Niagara continues to flex it’s strength for tourism related developments.
Below are some of the biggest stories in industrial and commercial news from 2015.
When Buffalo developers, amoung them Carl Paladino, Bill Mosey, David Kompson and Joel Castle, purchased the vacant land adjacent to the Fort Erie Race Track in 2014 many wondered what would become of the 338 acre property. In November, those plans were finally announced along with a number of major commercial, residential and industrial developments.
The long awaited developments along St. Catharines Fourth Avenue are finally taking shape after years in limbo. Chief amoung them is the First Avenue West Shopping Centre, which has attracted major anchor tenant Princess Auto to Niagara.
Over 30 new businesses entered the downtown St. Catharines landscape one the heels of the completion of the Marilyn I Walker School of Fine and Performing Arts and the FirstOntario Performing Arts Centre. The article contains a comprehensive list of all new businesses as well as the major developments set to be completed in 2016.
Niagara Falls experienced one of its best years for tourism traffic since passport requirements were introduced in the early 2000’s. A strong attractions base along with increased marketing spending by government bodies and a low Canadian dollar meant increases in business upwards of 20%, making now the time to invest in Niagara Falls.
The viability of the industrial market in Niagara
Is Niagara a community in crisis when it comes to its industrial sector? Stop beating the doom gloom drum, right now the industrial market in Niagara is continuing to adjust and grow. Not exactly a community in crisis. Niagara is showing it can continue to steadily attract new industry, especially in new green developments, representing a change in the region's industrial history.
Hamilton introduced a variety of community improvement plans (CIPs) to drive growth in the economy and to hold a firm commitment in the development and redevelopment of the city. By breaking down CIP incentives by area, the city is able to concentrate on growing specific locations that will strengthen Hamilton’s economy and investment appeal.
Other major stories you may have missed:
To learn more about industrial and commercial real estate in Niagara or Hamilton connect with a Niagara commercial realtor.