In December of last year, the City of Hamilton launched an RFP process to find a team (from the list of prequalified bidders) to develop a new urban community at Pier 8 along the waterfront. The ambition is somewhere around 1,500 new residential units and approximately 13,000 square meters of commercial and institutional space.
That process has narrowed the pool to 4 teams and 1 will ultimately win the exclusive right to develop the new community. Here are the teams, along with a link to their submission materials, including a short video that I understand was a requirement of the RFP.
- GulfDream (link)
- Tridel (link)
- Urban Capital / Core Urban / Milborne Group (link)
- Waterfront Shores (link)
This is a super exciting project for Hamilton. So I would encourage you to take a look at the presentation materials. At this point, you only have until Tuesday, April 17, 2018 to provide any comments to the City’s evaluators. If you’d like to view the boards in person, you can do that this Monday and Tuesday in the main lobby of City Hall.
“Now the trick is that we gotta look like we don’t need this shit and they give us the shit for free.“ -Mike Peters
This is a line from one of my favorite movies, Swingers. Short video clip here. Mikey and Trent are in a Las Vegas casino trying to play it cool. They’re looking to make a scene at a table and Mikey throws out this gem of a line. He knows that people want what they can’t have and that confidence matters.
I was reminded of this line today after Amazon announced its HQ2 Request for Proposal (full RFP document here) and every city, from Chicago and Toronto to Philadelphia and Dallas, started swooning over the prospect of housing Amazon’s second headquarters in North America.
But to be clear, I do not think this is a bad idea. I actually think Amazon HQ2 is an incredible city building opportunity that would generate countless positive externalities for the selected city. I’m thrilled that Mayor John Tory will be personally “leading the charge” with respect to Toronto’s response.
Over $5 billion in construction and as many as 50,000 employees making on average over $100,000 per year. Amazon is looking for about 500,000 sf of space in phase 1 (2019) and up to 8,000,000 sf in total. Based on the RFP, they seem to be pegging their capital investment at somewhere around $600 per square foot.
If I’m being as objective as possible, I honestly believe that Toronto is the city to beat in his competition. I think it will come down to access to talent. Human capital is the lifeblood of a company and Trump’s immigration policies simply put U.S. cities at a disadvantage in this regard.
Of course, Toronto is also awesome. So that’s my prediction: Amazon HQ2, Toronto.
I’ve written quite a bit about the advantages of a “rail + property” model when it comes to building public transit. It’s a model that works quite successfully in other parts of the world, such as in Hong Kong.
However, in North America the notion of land value recapture or of transit authorities acting as real estate developers is still very much in its infancy. We’re myopically focused on rail.
Which is why I said about 3 months ago that if the stations along the new Eglinton Crosstown LRT line in midtown Toronto became single storey and single purpose buildings, that we will have missed an enormous city building opportunity.
Since that post I had a number of conversations with the folks over at Metrolinx and I was delighted to learn that there were in fact plans to build additional density on top of the stations. And as of today they’ve gone completely public with that intention.
Metrolinx, with the help of Avison Young, has just issued a request for proposal (RFP) for 4 sites along Eglinton Avenue in the city. Two of them are at Keele Street, one of them is at Weston Road, and the last one is at Bathurst Street. The 4 sites could generate between $14M - $22M.
The objective is to find suitable developer partners to help them build on top of their planned LRT stations. And it’s a step in exactly the right direction for Metrolinx and this city.
Image Source: Google Streetview