Hamilton is one of the leaders in the country when it comes to new development projects! With many plans and investments in place, this hotspot is becoming a world-class city faster than anyone imagined, making it perfect for those looking for a new place to call home.
According to 2021 Census Data, Hamilton has seen a population increase of 6%. That’s more than the Ontario provincial average of 5.8%. This surge happened in the span of five years, with expectations to continue growing to at least 820,000 by 2051. There’s no doubt about it—Hamilton is expanding. Let’s explore why.
It’s A Great Location
When it comes to location, Hamilton is very desirable. Situated only one hour between Niagara Falls and Toronto, businesses can set up shop here and push products easily to U.S. and Canada. Plus, it’s right on Lake Ontario and is home to the largest Canadian port on the Great Lakes, the Port of Hamilton. This provides easy access for cargo ships to move products to shipping destinations all around the globe, contributing to the city’s growth.
While it’s great that businesses set up their operations here, it’s even more beneficial for young professionals and adults! Proximity to Toronto allows students to attend any college or university they would like, and adults have employment opportunities aplenty without the costly Toronto-living price tag.
Strong Industrial Presence
Unlike many areas, Hamilton has a solid commitment to industrial park development and site readiness. There’s an abundance of potential locations and opportunities for businesses and investors alike. In fact, Prestigious Executive magazine stated that “Hamilton attracted more industrial and commercial development than any other Canadian city in the past year.”
It’s Still An Affordable City
Compared to some of the biggest markets in Canada, Hamilton is still extremely affordable when it comes to economic and real estate development. It has relatively low taxes, development charges and utility costs, which is attractive to developers, residents and businesses. It’s also perfect for students and professionals who want to move here and rent an apartment. Whether you are relocating for university or a job, you can take advantage of a more affordable way of living than the nearby city of Toronto.
A Commitment To Infrastructure
Hamilton already has exceptional business infrastructure—a large number of transportation links and nodes, a local labour force, and ample federal government investment. But few people realize that the city also has a commitment to sustaining and improving infrastructure. In November 2022, Ontario made changes to the City’s Official Plan to include expanding the Urban Boundary by 2,200 hectares to facilitate new urban development. This will support growing demands, create new jobs, and enhance infrastructure.
Prioritizing Neighbourhood Growth
The city also has plans for small-scale intensification (redeveloping existing areas to accommodate more people) with the goal of providing Hamilton residents with more affordable and diverse housing options. This demonstrates a strong commitment to the people, recognizing that as the city grows, so must plans for development. This dedication makes Hamilton a desirable place for current and future residents alike.
Desirable Educational Opportunities
Hamilton is home to McMaster University, a top ten-ranked post-secondary institution in Canada. With respected research and teaching programs, it’s an international hotspot for students and academics wanting to further their education. This ultimately translates to more growth in the city’s talent pool.
Explore Hamilton with CLV Group
Don’t wait to move to Hamilton before the prices start to reflect the growth and demand! At CLV Group and InterRent REIT, we can help you find an affordable apartment in this vibrant and fast-growing city that suits your needs and lifestyle. Browse our listings today to get in on everything this great city has to offer!