Comment 28552

By jason (registered) | Posted February 09, 2009 at 13:14:09

hey, you can always move back to Hamilton, Ben! Lol.

I saw this article and was intrigued by it as well. It's certainly noticeable in Toronto. It's less noticeable in Hamilton, but look at the increase in prices in the downtown area over the past decade. It's happening here, albeit more slowly, even with the 'depressed downtown' and mid-size city problems.
There was a news story recently of a suggestion for the city to purchase two homes downtown on Charlton Ave, adjacent to Durand Park. Total cost to purchase both homes was in the $700,000 range ($350,000 each). The idea to buy these homes first surfaced 10 years ago. At that time, the city could have snagged both for around $250,000 total ($125,000 each). Quite an impressive increase in value in downtown Hamilton in one decade. Downtown and the west harbour is on the rebound here, but I think what's really driving this is the quality and uniqueness of the wonderful old homes downtown.
For the time being, however, downtown Hamilton is a great buy for the middle/upper class as well as great rental options for young folks and the poorer end of the working class.
The key will be to learn from the mistakes of places like Toronto and try to develop a downtown that is livable for all.

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