Reasons to Be Bullish on the City Of Hamilton 🐂🐂*
Yes it looks a little dark right now. And there's no denying that if you're a small business in Hamilton, particularly in hospitality or real estate, you've come through a crushing 5 or 6 years. Just as the food and entertainment scene was cresting in the late 2010's, we had COVID, lock-downs, the commercial real estate crash, agile working, a spike in homelessness and drug addition, inflation, a housing crisis and on and on.
But there is hope. And reasons to be optimistic. Why?
Because we are about to experience what happens when one of the most powerful modern forces of urban regeneration is unleashed. We are on the cusp of massive PRIVATE sector infrastructure investment in the entertainment and cultural industries with corporate partners that are not just leaders in Canada, but are at the apex of their industries globally.
How many of those businesses have ever been in Hamilton? Are here now?
In 2021, the City transferred operational responsibility of three key downtown entertainment facilities to a consortium called the Hamilton Downtown Urban Precinct Group ("HUPEG") for a 49-year period. The consortium is led by PJ Mercanti and the Carmens Group and includes the region's largest land developer, Alinea Land Corporation.
(Full disclosure: HUPEG and Alinea are wonderful clients of Gowling WLG)
These facilities include the very heart and soul of Hamilton's entertainment scene: FirstOntario Centre, FirstOntario Concert Hall, and the Hamilton Convention Centre.
In a absolutely brilliant turn of events, HUPEG recruited the Oak View Group (OVG), the world's largest developer of sports and live music venues, whose partners include Live Nation Entertainment, to undertake a $300m renovation of our arena with the determined ambition to deliver Canada's No 1 venue for live entertainment. And by live entertainment, I mean music.
This is all about to start in a meaningful way. You'll hear a great deal more shortly. Beyond the obvious, why is this important? Here's why:
🎼 Construction and redevelopment at this scale generates jobs. Lots of them.
🎼 Live entertainment, particularly at a world class level, spins off enormous sustainable economic benefits, particularly for downtown hospitality.
🎼 Music and the arts - the creator economy - is the future of work and a powerful force for urban regeneration. And this can be an incubator/magnet for that talent globally.
🎼 Cities, like companies, thrive on 'brand'. And globally recognized performers performing in world class venues project brand and confidence.
This city may have been built on steel. But as PJ Mercanti likes to say, it will be rebuilt on Rock & Roll. (Or whatever the kids listen to today).
Sound check anyone?
Norm Schleehahn
Mohawk College
Hamilton Chamber of Commerce
https://lnkd.in/gneMY-5g
Project Manager at NBWW Architects
5moCongratulations.