Hamilton City Council recently received a report that the massive 1,600-unit redevelopment of Pier 8 in the city’s north end is currently “unfeasible” due to current “market, economic, and geopolitical pressures.”
Waterfront Shores Corporation has an agreement with the city to develop the land, which is currently municipally owned.
According to an update from Waterfront Shores, proceeding with the development at this time would not allow them to meet their profit threshold.
As such, Waterfront Shores requested an extension of the terms of their Development Agreement, and city staff recommended giving them three and a half years.
City staff say that Waterfront Shores remains a “committed development partner” and will provide ongoing updates on feasibility to the city at a minimum of once per year, with scheduled reporting meetings at least every six months.
Staff continued, “As soon as the market conditions improve and the builder threshold profit can be achieved, Waterfront Shores will be required to submit a revised development schedule, which will restart the implementation of the Agreement.”
The report from city staff painted a bleak picture of the current development market and the economy.
Staff wrote that, as of Q2 2025, “housing completions have declined by more than 80% year-over-year, underscoring the steep drop in residential construction momentum (CMHC).”
The report continued, “At the same time, household savings have fallen to their lowest level since Q1 2024 and currently sit at 5.7%, a sign of shrinking disposable income, while broader indicators of financial stress have risen markedly over the past 12 months (Statistics Canada).”
“Added to these domestic headwinds, the recent trade tensions have injected further market volatility and uncertainty. Tariffs can directly increase the cost of key construction materials, raising project budgets and squeezing already thin developer margins.”
Staff added that residential sales across all housing types have declined between 10 per cent and 34 per cent from 2024 to 2025.
“Together, these conditions – compounded by the uncertainty surrounding cross-border trade policy – create an environment where developers are cautious about launching projects, given the risk of low pre-sales, rising carrying costs, volatile input costs, and limited capital availability,” they concluded.
“Until market confidence improves, trade tensions ease, and demand fundamentals strengthen, both residential and some commercial developments in Hamilton are likely to remain stalled.”
As a result of the development delay, Councillor Cameron Kroetsch (Ward 2 – Downtown Hamilton) brought forward a motion to have staff assess the feasibility of “alternative development options with Waterfront Shores Corporation, and without limitation, also include the consideration of how affordable housing and alternate tenure (e.g. purpose-built rental) may factor into the options.”
While Kroetsch argued that the motion simply asks for a report back for more information, some members of Council strongly objected since the city already has a development plan and agreement in place with Waterfront Shores and it would seem as though the city was going back on their agreement.
Councillor Mike Spadafora (Ward 14 – West Mountain) said that the motion was a “poor message to send to our partner – a partner who we are in business with.”
As part of the agreement, the City of Hamilton gets to sell the land to Waterfront Shores at market value and also gets a percentage of units sold.
Hamilton Mayor Andrea Horwath, and the majority of Council, agreed with Spadafora, and Kroetsch’s motion was defeated on a 6-10 vote.
VOTING RESULTS
To explore alternative development options with Waterfront Shores.
Nov. 12, 2025: General Issues Committee
IN FAVOUR (6): Maureen Wilson (Ward 1 – Chedoke-Cootes-Westdale), Cameron Kroetsch (Ward 2 – Downtown Hamilton), Nrinder Nann (Ward 3 – East Hamilton Centre), Craig Cassar (Ward 12 – Ancaster-West Flamborough), Alex Wilson (Ward 13 – Dundas-Central Flamborough)
AGAINST (10): Tammy Hwang (Ward 4 – Hamilton East), Matt Francis (Ward 5 – Hamilton East-Stoney Creek), Tom Jackson (Ward 6 – East Mountain), Esther Pauls (Ward 7 – Central Mountain), Rob Cooper (Ward 8 – West/Central Mountain), Brad Clark (Ward 9 – Upper Stoney Creek), Jeff Beattie (Ward 10 – Stoney Creek-Fruitland-Winona), Mark Tadeson (Ward 11 – Glanbrook-Binbrook-Mount Hope), Mike Spadafora (Ward 14 – West Mountain), Ted McMeekin (Ward 15 – East Flamborough-Waterdown), Mayor Andrea Horwath
Based in Hamilton, he reaches hundreds of thousands of people monthly on Facebook, Instagram, TikTok, and Twitter. He has been published in The Hamilton Spectator, Stoney Creek News, and Bay Observer. He has also been a segment host with Cable 14 Hamilton. In 2017, he received the Chancellor Full Tuition Scholarship from the University of Ottawa (BA, 2022). He has also received the Governor General’s Academic Medal. He formerly worked in a non-partisan role on Parliament Hill in Ottawa.
