Housing
Jamesville Revitalization Analysis
Image credit: SvN Architects + Planners
Client:
CityHousing Hamilton
Location:
Hamilton, On
NBLC Services
Affordable Housing Strategy
Development Potential Analysis
Market Analysis
Financial Analysis
Project Description
NBLC was retained by City Housing Hamilton (CHH) in 2018 to prepare a redevelopment feasibility analysis of its 5.4 acre Jamesville property located in Hamilton’s North End. The site is currently improved with townhomes operated by CHH as rent-geared-to-income housing (RGI). Our analysis evaluated the redevelopment potential of the site, both from a residential market and land use planning perspective, in order to consider whether the redevelopment potential of the site might offset the costs of developing new affordable housing on a portion of the property as part of a mixed income revitalization strategy. NBLC prepared two conceptual redevelopment scenarios for the site and conducted financial pro forma analyses of each scenario in order to evaluate the potential viability of the project. Detailed conceptual renderings were also developed to support future procurement efforts. NBLC’s analysis was used to inform CHH’s decision-making and the structure of a future request for proposals processes in order to select a redevelopment partner for the project.
