More than 80 acres of land purchased near Hamilton’s airport

The first major development in the Hamilton airport growth district is set to become reality. A major commercial real estate developer has acquired more than 80 acres and could start building as early as next year.

An artists rendering shows what a million-square foot warehouse built by developer Panattoni could look like, a distribution centre with plenty of access for transport trucks and possibly direct access for airplanes straight from the runway.

Panattoni is looking for an anchor tenant before it starts building, but Hamilton’s economic development department is confident companies will come forward.

“Think Amazon, think Canadian Tire, a lot of these companies say we’ll get delivery to you in two days, you have to be shipping by air. So it’s a big deal to have runway access.” Glen Norton

Panattoni spent just over $27 million for the land, they took possession last month. The price works out to about $330,000 per acre which the company says is a good deal considering similar industrial land closer to Toronto sells for over a million dollars an acre.

The 80+ acres sits on the east side of the airport employment growth district at Upper James and Dickenson road.

Panattoni has build industrial spaces across the country, including a whirlpool complex in Milton and a Canadian Tire distribution centre in Brampton. They also build in the U.S and Europe.

Both Panattoni and the city’s economic development department expect that other industries will be drawn to the airport employment growth district now that Panattoni is there. The city expects another airport land announcement before the end of the year, especially since several other tracts of land are set to be serviced.