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Mar 08, 2022, 10:30 ET
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The development is the first of its kind in Hamilton
HAMILTON, ON, March 8, 2022 /CNW/ – East Hamilton and Stoney Creek will soon be home to a new integrated community.
Harrison Equity Partners, together with Retail Ventures CND Inc., is leading the proposed redevelopment of Eastgate Square into a revitalized retail destination and vibrant residential community. The first new community of its kind in Hamilton, this integrated development will tie in with existing and planned transportation infrastructure to convert the 45-acre Eastgate Square site into an accessible and affordable destination. The area is already well connected with easy rail and road access and will further benefit from the new Centennial GO train station and the soon-to-be-built Hamilton Light Rail Transit (LRT).
Eastgate Square is a well established retail location offering a broad range of daily shopping through its many retailers including Fortino’s, Shoppers Drug Mart, LCBO, The Beer Store, Winners, Home Sense, SportChek, Dollarama, Kitchen Stuff + and many more fine merchants. The proposed redevelopment will maintain its market leading position by adding a focused array of existing and new shops and services to cater to the local community’s daily needs with a focus on healthcare, wellness, pet care and similar core services inside a re-imagined and re-designed complex.
Over time, this revitalized addition to East Hamilton and Stoney Creek will also provide the community with numerous and varied housing options. The entire development will be designed to take advantage of the large, existing and well-defined site to seamlessly integrate with the broader local community. It will also be conveniently located close to a number of transit options, including the Hamilton LRT and the Centennial GO, bringing more service to Hamilton.
Through the redevelopment of the existing commercial zone, adding both retail and residential options, the development aligns with the city’s strategic plan and Official Plan which aims to intensify and develop higher density neighborhoods in urban areas. This strategy reduces sprawl, helping to leave farmland intact, while maximizing the utility of existing and planned transportation infrastructure.
"We are very pleased to be leading the redevelopment of Eastgate Square," says Mark H. Newman, CEO and Founder of Harrison Equity Partners. "We believe that with a careful appreciation of the local community’s needs we can make Eastgate Square the kind of special place where people will come to live, work, shop and be together."
"This is an exciting, visionary plan that will not only restore Eastgate Square to a regional destination for retail shopping but also transform it into a brand new thriving community," says Mayor Fred Eisenberger. "This is a forward-reaching model of the future evolution of large retail complexes that will no doubt gain attention from across North America and it is exciting that it is happening here in our community."
Harrison Equity Partners Ltd
Harrison Equity Partners ("HEP") is a leading private investment firm founded by Mark H Newman and Joseph Brown which invests in commercial real estate for redevelopment.
Retail Ventures CND Inc.
Retail Ventures CND Inc. is a retail tenant focused brokerage and consultancy company based in Toronto founded by Sam Winberg.
SOURCE Harrison Equity Partners
For further information: [email protected]
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