Hamilton negotiating for key waterfront lands
The city is in negotiations with the Port Authority to take back key sections of waterfront land – a move that opens up integral pieces of the water’s edge to new development.
City Manager Chris Murray has made an offer to the Port Authority for control of Pier 7 and Pier 8, which are being held by the Authority under a long-term lease. Though negotiations are still ongoing, sources say both sides are feeling positive about a deal.
Pier 7, which is slightly to the east of Discovery Drive, was set to come back into the city’s hands in 2015. Pier 8 wasn’t scheduled to come back under city control until 2025.
The move would be a huge victory for the city. One of the main concerns about waterfront development was that the city’s development agency, the Waterfront Trust, was running out of land.
“For me, the biggest obstacle not only for the waterfront trust, but for the city, is that we have no land to develop,” Councillor Chad Collins told the Spectator in early 2010. “We're trying to develop land where there's little development opportunity.”
If the deal is successful, the city would regain control of one of the ripest development parcels in Hamilton.