LOCATION:
West of Toronto on the western shore of Lake Ontario, just past of Burlington on the Q.E.W.
EPICENTRE:
West of Toronto on the western shore of Lake Ontario, just past of Burlington on the Q.E.W.
DISTINGUISHING FEATURES:
Historic architecture, comeback city, once a rustbelt city, very artist friendly, music scene, very affordable, long commute, GO transit to Toronto.
DID YOU KNOW?:
The French are coming! Recent statistics show that the Francophone community grew by 50% between 2006 and 2011 in Hamilton. 45,000 citizens claim to have knowledge of both official languages, and 13,000 have French as a mother tongue.
In the past few years, it seems that Hamilton has garnered quite a bit of buzz. It is not exactly an emerging neighbourhood in Toronto, but I am often asked about my thoughts about Hamilton. Many buyers, whether they are first time buyers or buyers moving up, will know a friend or a colleague who has grown depressed with Toronto real estate prices and bought a large Victorian house in Hamilton for the cost of a bachelor condo unit in Toronto. That gets many thinking: Is it worth it to move to Hamilton? Could you actually live in Hamilton? Would it be a wise investment?
I’m happy that Hamilton is finally having its moment. It’s well deserved! Especially since I have been hearing that Hamilton will bounce back for decades now, but there has been little sign of it is actually happening until the past ten years. There is a lot of optimism about the city right now, despite its rust belt past and decade after decade of decline since the de-industrialization of the Western world. These days, it has one of the fastest growing economies in Ontario. It’s been dubbed the “comback kid” of Canadian cities. And it has one of the best markers of any emerging neighbourhood or city: It is attracting artists. So much so that the James Street art crawl, or “supercrawl” as the locals call it, brings in 1000 to 1500 folks to the event each time. It’s no Nuit Blanche, but it’s homegrown and it’s growing.
Of course, we can’t let our optimism get in the way of the reality here. Hamilton has a familiar rust belt tale, similar to many American cities like Detroit, Buffalo or Pittsburgh. In the past fifty years the middle class and wealthy have traditionally left downtown for the hill or the suburbs or another place to live, and what’s left behind is a lot of homelessness, drug addiction and mental health issues. We cannot deny that Hamilton, once the booming steel town of the first half of the 20th century, fell on very tough times in the second half. You can still drive down sections of some streets like Barton and see boarded up street-front windows or mostly dismal, sad businesses that are on their last leg.
During this long period of decline from the 1950s until about 2010, Hamilton largely avoided what happened to prosperous, growing cities during that time. They did not tear down their historic architecture and build a large number of ugly, modern buildings and sprawling highways through downtown. The grim and poorly planned architecture of the 60s, 70s and 80s mostly bypassed this city, and what’s left is a city full of incredible historic architecture from its downtown to the Victorian and Edwardian homes around the city. So, unlike suburban cities like Mississauga or Oshawa that has small historic areas, lots of highways and mostly sprawling, low density suburban housing, Hamilton has a dense, urban downtown core and blocks and blocks of red-bricked, historic homes. It is ideal for the kind of neighbourhoods most buyers are looking for these days in Toronto. It is the Riverdale and High Park of 40 years ago.
Strangely, because Hamilton did not grow during an ugly era of architecture(the 60s to 80s), by today’s standards, it has become more appealing now. The old neighbourhoods are still in tact. People want walkable neighbourhoods, local businesses, and community events. Most suburban areas don’t offer this. Hamilton has this, and more of it on the way as the downtown comes back from the brink.
Even though some credit can be given to the city of Hamilton for making the city appealing to artists and new businesses away from steel, Hamilton’s success has a lot to do with the region it resides in. More and more, we will see the area stretching from Oshawa to Hamilton function as a more integrated region. In the future, it should have better and more integrated transit service between all areas. That means if you work in Toronto, Hamilton will function as a kind of urban suburb with the feel of a city but a GO train voyage away from Toronto.
Within that context, I can safely say that Hamilton is one of Greater Toronto’s most affordable emerging neighbourhood on its western borders. I have taken a keen interest in this city and have worked on real estate transactions here from clients who want more space, historic architecture and lower prices. More and more, I am asked about this city. More and more, I am learning what neighbourhoods in Hamilton are worth considering, and which ones you may want to take a pass.
Hamilton does come at a price. If you do work in the city, it’s a long commute. It will take up a chunk of your day. If you live in Toronto already, most of your friends and family live there too. But on real estate prices alone, you will be amazed at the kind of home you are able to afford, even in a more challenging price range. And that’s what the draw is. There are many Toronto emerging neighbourhoods I would recommend as great areas to get in and as a wise place to invest, but Hamilton is in a category of its own.
Established Hamilton still tends to be closer to the mountain, though the emerging neighbourhoods along James Street,( currently the city’s hippest street), Corktown, Strathcona, Gage Park and Ottawa Street are worth mentioning.