McMaster Innovation Park has purchased The Hamilton Spectator building

In an official announcement made this morning, McMaster Innovation Park (MIP) revealed that it has purchased the Hamilton Spectator building.

Barely a month after the news broke that The Hamilton Spectator’s headquarters at 44 Frid Street was up for sale at an asking price of $25.5 million, McMaster Innovation Park has snatched up the land and building in order to expand their own facilities and resources.

Major announcement this morning @MIP_Hamilton. Having achieved self-sustainability, @MIP_Hamilton is ready to make some major investments, starting with @TheSpec building. The concept drawings for the entire park are ambitious and beautiful. pic.twitter.com/Hr2kgYv223

— Keanin Loomis (@keaninloomis) March 3, 2020

“Huge thank you to everyone involved in making this endeavor come to fruition! We are one step further in our innovation journey,” said McMaster Innovation Park this morning on Twitter.

A major hub for experimentation, entrepreneurship, and research, McMaster Innovation Park has established itself as a key national player in supporting new innovations poised to make major splashes in the business, tech, manufacturing, and life science industries.

The acquisition of The Spec’s building makes perfect sense, given the tight physical proximity to the existing Innovation Park facilities and the prime opportunity to expand. Exciting concept drawings of the proposed park expansion were also released with this morning’s announcement.

Further details and timelines for MIP’s plans regarding the former Hamilton Spectator building are still to come.

Lead image courtesy of @MIP_Hamilton

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• business
• city development
• downtown Hamilton
• entrepreneurship
• hamilton spectator
• innovation
• life science
• McMaster Innovation Park
• McMaster University
• tech