16 Cannon Street East, Hamilton, ON

Avison Young has been exclusively retained to arrange the sale of 16 Cannon Street East, a conditionally approved high-density redevelopment opportunity in the heart of downtown Hamilton. The site plan has received conditional approval for the redevelopment of the existing two-storey residential building into a 16-storey residential tower with a Gross Floor Area (GFA) of 89,066 SF, offering 130 residential units. Strategically located, the property is within walking distance of major transit hubs including the West Harbour GO Station (9 minutes north), Hamilton GO Centre (11 minutes south), and the future Hamilton LRT James Stop (5 minutes away). The surrounding area is rich in amenities such as Hamilton City Centre, Jackson Square, First Ontario Centre, and more. This site presents a rare opportunity for developers to acquire a nearly approved, transit-oriented development in one of the fastest-growing regions of the Greater Golden Horseshoe.

A recent policy change by the City of Hamilton eliminates the requirement for residential parking in certain downtown areas, significantly benefiting this site. 16 Cannon Street East will now only require 8 visitor parking spots, removing the need for costly infrastructure such as parking stackers, car elevators, and a second parking level. This change allows for reduced construction costs and more efficient land use, potentially increasing unit count or enhancing building amenities.