Real Estate Portfolio Management

The City of Hamilton manages real estate assets and real estate portfolio activities including:

  • Leasing, acquisition and disposition of properties owned by the City.
  • Site improvements.
  • Environmental audits.

The City's Real Estate section focuses on:

Portfolio Management

  • Asset rationalization of municipal assets 
  • Identifying and disposing of non-core municipal assets

Leasing

  • Long and short term leasing of city-owned properties
  • Securing long and short term leases for City use

The City is required to optimize the use of its properties by:

  • Purchasing properties planned for future municipal use when they becoming available.
  • Leasing these properties for short terms until development can start.
  • Charging fair market rates for property leases.
  • Leasing space for program use from other agencies instead of purchasing property.

Acquisition

  • Acquisition for city capital infrastructure programs such as roads, sewers, storm water facilities, airport expansion, parkland and open space development

Land Sales

  • Land sales of industrial business parks, residential or commercial properties, and road closures

Appraisal Services

  • Internal and peer review of external appraisal reports
  • Market valuations for cash-in-lieu of parkland, parking and patio licences.
  • Appraisal process 

Approval Process 

  • Purchases and sales up to $250,000 can be approved by the City Manager within 2 weeks.
  • Purchases and sales up to $150,000 can be approved by the General Manager or designate within 2 weeks.
  • Sales over $250,000 require City Council approval which takes 6 to 8 weeks or more depending on their complexity and Council’s reporting cycle.