HIP Development receives the The 2017 Chair's Award for an exceptional effort which goes above and beyond the call of duty in any area of business and/or community development.
The 2017 Chair's Award winner, HIP Developments has demonstrated the impact creative redevelopment can have on a community. Not since the arrival of Toyota in Cambridge have we had such a large private sector investment, nearing 200 million dollars.
First landing in the Hespeler core area with the redevelopment of the old American Standard site with a new 10 story rental apartment building, that is now complete and occupied, and a 49-unit luxury condominium development, where while the project has yet to get underway, over 80% are sold.
These 50 million dollars plus project is now attracting new investment all around it, transforming an entire community into a live, work, play environment.
12 kilometers south along the banks of the Grand River, nestled in picturesque downtown Galt we find the old Southworks. Most recently it was occupied as an outlet mall, in its hay day certainly drew lots of folks from not just Cambridge, but miles around. Prior to that it had many uses in the manufacturing sector and dates to the time when factory floors were dirt and the work was challenging.
HIP Developments purchased that along with the adjacent former Tiger Brand building and will be investing over 125 million dollars and creating something that few, if any communities have. A live, work, learn and play community.
Let's first start with the Grand Innovations incubator opening in the Spring of 2018, where Conestoga College engineering students will be working with industry to create new ideas and jobs. Where small enterprises will get their start and lift into commercialization of their ideas and where new companies will be launched. Energy Plus, the hydro provider for Cambridge, North Dumfries and Brant, will have their head office, with over 200 people, occupy offices there. Then along comes tow 19 story condominium towers, a community square, arts centre and places where people can dine, have a latte, listen to a local busker or have a night cap on an outdoor patio on a beautiful summer evening.
It is designed for everyone who wants the finer things in life and to live in an environment where convenience is the best description of why you might love the Gaslight District. Next door to the Hamilton Family Theatre Cambridge, a 500 seat live professional theatre complex, home to Drayton Entertainment's head office, this is not just a gem of a development, it is maybe, a one of a kind.
The Chamber is proud of HIP Developments and its people, truly deserving of an award that speaks to an outstanding employer, a creative business and one who is changing the landscape of our community. Congratulations to HIP Developments and thank you for choosing to put your mark of imagination on the City of Cambridge.