A highrise condo with hundreds of units planned for a boarded-up downtown Hamilton strip mall is the latest casualty of a market slump that has ground the sector to a halt with more woes expected on the horizon.

Slate Asset Management says its 27-storey, mixed-use project for the former Corktown Plaza off John Street South has been scrapped due to the challenging conditions.

The hope was that the “exciting project” would “bring new energy and opportunity to the vibrant Corktown neighbourhood,” a spokesperson for the global investment firm told The Spectator in an emailed statement.

But market factors, “including economic and political uncertainty, changing global trade policies, and a higher interest rate environment, have impacted the pace of home sales across the country.”

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