16 Cannon Street E
16 Cannon Street E
$3,500,000
31 days on market
About This Listing
16 Cannon Street East represents a premier high-density redevelopment site in the heart of downtown Hamilton. The site is conditionally approved for a 16-storey, 130-unit residential tower totaling 89,066 SF of GFA. It is ideally situated within walking distance of West Harbour GO, Hamilton GO Centre, and the upcoming LRT stop, offering unmatched transit connectivity. The current use is a legally nonconforming 8-unit apartment building. The vendor makes no representations and warranties. Sold "as is, where is. Potential 132,000 SF High-Density Development Opportunity in Downtown Hamilton. A new owner has the ability to take the site back to the Committee of Adjustment and apply for additional height, unlocking up to 132,000 SF of total Gross Floor Area (GFA). This aligns with Downtown Hamilton's high-rise intensification policies that support up to 30 storeys. The opportunity allows for significant added density at a competitive land cost of approximately $35 per buildable square foot.
| Monthly Mortgage (P&I) | $15,249 |
| Property Tax (MLS) | $1,524 |
| Maintenance Fees | $0 |
| Total Monthly Cost | $16,773 |
Down payment: $700,000 (20.0%) · Mortgage: $2,800,000
Property tax uses MLS annual tax of $18,282/yr. Uses the standard Canadian semi-annual compounding convention. Estimates only—not a pre-approval or offer of credit. Actual rates and eligibility may vary. Provincial sales tax on mortgage insurance, when applicable, is not included. Consult a mortgage professional for accurate figures.
Property Details
Listing provided by AVISON YOUNG COMMERCIAL REAL ESTATE SERVICES, LP
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Data last updated: August 23, 2026 at 10:25 a.m.