City Real Estate

Real Estate Portfolio Management

COVID-19: FAQ for Development Approvals

As the COVID-19 situation in Hamilton continues to evolve, these Frequently Asked Questions for Development Approvals will be regularly updated as circumstances change to provide residents and developers with current information.

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.