METROLINX & MIP REACH PROPERTY AGREEMENT
Metrolinx and McMaster Innovation Park (MIP) are pleased to announce that they have executed an agreement for acquisition of two properties integral to the development of Hamilton. MIP has acquired the property at 606 Aberdeen Avenue, and Metrolinx has acquired a 14.5 acre property that will be the future site of the Hamilton LRT Operations, Maintenance, and Storage Facility (OMSF). This multi-party land transaction is an important milestone for both parties as they advance their respective development agendas. This transaction has been in the works by the parties for nearly 3 years.
MIP CEO, Ty Shattuck offered, “the MIP campus, including the newly acquired Hamilton Metal Trading property, has been a technology hub within the region for over 100 years. These amazing properties were once home to Westinghouse’s Engineering offices, factories, and distribution centres and will continue to be an innovation landmark as part of MIP. This is an important day for Hamilton’s innovation ecosystem and we are thrilled to build upon this land’s amazing legacy of innovation.” The addition of these properties to the MIP campus is all a part of the larger strategy to enhance the role of MIP within the Hamilton and national innovation ecosystem. MIP’s plans for the property are still nascent, but MIP is committed to turning the space into an area that captures both the history of the land and the innovative future that the campus holds. A local architectural firm is working on plans to bring the vision to life.
A great future is also in store for Metrolinx and the future OMSF property. This property was publicly identified as the preferred site for the OMSF in 2016, and was subsequently confirmed in the Environmental Project Report Addendum that was approved in 2017. Acquiring the land for the future LRT OMSF demonstrates great progress on the project and is a key milestone.
McMaster University and McMaster Innovation Park have been great supporters of the project and all parties are pleased to have worked together throughout this negotiation.