From Walmart plaza to condos on Hamilton’s east Mountain

A developer plans to build condos and townhouses on a former Walmart plaza on Hamilton's east Mountain.

New Horizon Development Inc. has purchased the County Fair Plaza at Mohawk Road East and Upper Sherman Avenue for $16 million.

It's 10 acres, so you can very comfortably put 1,500 condominiums on 10 acres," Jeff Paikin, president of the Burlington-based firm, said Tuesday.

New Horizon bought the County Fair Plaza from Sun Life. Walmart leased the property, Paikin noted.

In March, Walmart Canada announced plans to close its 499 Mohawk Rd. E. location along with five others across the country as part of a $500-million reinvestment in other stores.

Walmart didn't immediately respond to a request for comment Tuesday.

Paikin said New Horizon reached a deal with the Beer Store to continue its lease but hopes to land an interim tenant for the Walmart store after the big-box retailer moves out Dec. 27.

So that we don't have to tear it down and leave an empty, old, ugly parking lot."

It will take at least a couple of years to put the future development through the planning process, but Paikin expects it to be a highrise.

When it's built, the development will situate more than 1,000 new residents to support retailers at CF Lime Ridge Mall, he said.

So it really helps the neighbourhood in many ways. It hits refresh."

New Horizon plans to build roughly 1,300 units on the site of Brock University's satellite campus at 1842 King St. E., which it purchased for about $11 million, Paikin noted.

Last year, Brock announced plans to relocate the east-end campus to Burlington, but plans to remain in Hamilton for the 2022-23 academic year.

The mix of condos and stacked townhouses are to reach 12 storeys and include a walkway from King to Lawrence Road, Paikin said.

Teviah Moro is a reporter at The Spectator. tmoro@thespec.com