Chew's News

Toronto and Waterloo may be known as Ontario’s tech hubs but a local Niagara business is invested in putting downtown St. Catharines on the tech map.

Clickback, a St. Catharines tech firm, has purchased the former Niagara Regional Police Headquarters at the corner of James St. and Church St. with plans to renovate the space and create an atmosphere for digital based businesses to thrive.

Port Dalhousie represents a community in transition. A once vibrant waterfront, taking steps to spur private investment and rebuild itself into one of Niagara’s finest destinations. A multitude of private investments have been announced for small area over the past two years. Projects including the Union Waterfront development and the Wellington at Port are infusing spirit and home and new residential and commercial viability for the community.

Last week the announcement of the sale of 38 Lakeport Road, fondly known as Murphy’s Restaurant, marked another historic building set for revitalization in Port Dalhousie.

Commercial real estate and global economic development thought leader, Site Selection Magazine has awarded Ontario with the Canadian Competitiveness award. The award recognizes Canadian regions “lighting up” Canada’s economy and this year investments like GE's new gas engine factory have helped Ontario reach the top tier. 

The award is a deep dive into where companies are investing and developing or expanding facilities in Canada. In 2014 and 2015, the award was given to Investissement Québec, but with 93 investment projects over 2015 and 2016 so far, Ontario is now on top. Ontario ranked first in job creation and second in asset improvements. Eight of the top 20 metro-area and economic groups are located in Ontario, including Waterloo, Hamilton, and London.

2016 has delivered story after story of promising development and investment news for Welland. The Southern Niagara town, which was recognized as one of the “Best Places to do Business in Canada”, is showing North America just how economically appealing it really is.

The biggest news comes from the announcement of GE’s new gas-engine plant but, smaller wins like the Hart Department Store and Niagara College’s technology funding are helping to round out a new economic era for Welland.

Niagara’s international trade reach has expanded with the designation of the Niagara foreign trade zone (FTZ) point. The FTZ awarded on April 15, serves all 12 municipalities in Niagara expanding from east of Hamilton to the United States.

The federal government sees the designation as an opportunity to ‘foster a supportive business climate,’ a designation that will stimulate investment and innovation helping Niagara increase its importing and exporting economy.

The city of Niagara Falls launched a new website to encourage economic development in February of this year. The new website, niagarafallsbusiness.ca, looks to attract new business to Niagara’s tourist capital by highlighting opportunities for investment.  

The team at Colliers International recently compiled 8 reasons to invest in Canada. While economic growth performance has Canadians worried, it has opened up an opportune window for foreign investment. 

Commercial real estate investment has been on the rise from American and Asian investors with investment activity totaling $1.4 billion US in the past 6 months.  The low loonie has allowed these countries to enter the Canadian market at a cost advantage. 

The below infographic titled "All signs point North" provides 8 reasons why now is a great time to invest in Canada. 

Mixed-use commercial property investments continue to grow in popularity across North America. They are the right option for upward development in highly populated areas and can offer a steadier revenue stream to owners than a single-use investment  

Mixed-use buildings are unique in that as an owner you are privy to two very different types of tenants who both bring their own value. However, the interests of residential and commercial tenants vary greatly. This is why the right balance must be struck between creating pleasurable amenities and situations for all tenants in order for the investment to be and remain successfully leased.

Across Niagara, a number of influential development projects are in construction. The projects range in function from retail, to tourism to multi-residential and industrial. In 2016, Fourth Avenue continues to expand out and downtown St. Catharines up. Tourism offerings are diversifying in Niagara Falls and Niagara-on-the-Lake. And in Welland, new industry is making a home in the Enterprise industrial subdivision.

These are the in construction developments to watch in 2016.

Hamilton continues to make Canadian headlines for economic diversity and attractiveness to investors. A new factor, the falling loonie, is presenting even more economic opportunity for Hamilton, as demand for product from Port based industries like steel and agri-foods grows.