City says 13 teams are interested in playing role in Pier 8 development
Thirteen teams of private developers are vying for a chance to buy and build on Hamilton’s Pier 8.
The city announced Friday that the request for qualifications (RFQ) closed July 10, and that the teams who submitted formal prequalification submissions are made up of 31 Ontario-based firms.
“Our team is thrilled with responses to the Pier 8 RFQ,” Chris Phillips, the city’s senior adviser of the West Harbour redevelopment project, said in a media release.
“Both the quantity and quality of the submissions reinforce the belief that the City’s West Harbour ReDevelopment is a transformative ‘City-Building’ project.”
The RFQ stage, which opened in April, will end with the announcement of a shortlist of interested bidders.
Teams on the shortlist, which is expected to be revealed mid-September, will be invited to participate in the request for proposals (RFP) stage.
The RFQ was the first step in a two-stage process offering private developers the chance to buy and build on 5.24 hectares of land integrated with a public recreational waterfront.
The RFP stage will focus on conceptual proposals and financial bids.
As part of the redevelopment project, the city hopes to create 1,500 residential units and 140,000 square feet of new commercial buildings and institutional space in nine development blocks that reach the water’s edge.
The entire solicitation project is expected to wrap up in 2018. The redevelopment is expected to generate $44-46 million in municipal tax revenue between 2020 and 2030.
A city commissioned rendering of redevelopment for Piers 7 and 8.