Quote:
Originally Posted by TheHonestMaple
That's interesting because London Ontario, although smaller but somewhat similar to Hamilton, also has a downtown core with almost no office buildings.
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The London CMA is about half the size of Hamilton though. London has 4.7 million sf of office space in it's downtown apparently, vs. about 5.2 million in Hamilton.
Which generally lines up with the "missing" office space a city Hamilton's size should have. If Toronto wasn't pulling regional employment it's way, Hamilton should theoretically have closer to 10 million square feet of office space downtown.
Winnipeg, with roughly the same CMA size, has 12 million SF of office space downtown, for comparison. Instead a lot of that office space is pulled to suburban offices along the QEW in Burlington and to downtown Toronto itself.
I would love downtown Hamilton's office market to improve, but it'll be slow going. There is still substantial vacancies downtown in many of the major office blocks around. There are a handful of small office projects, primarily conversions of old warehouses, which should a few hundered thousand sf of space to the wider core in the next few years, but nothing major.