The Corporation of Hamilton has signed a ground lease with Par-la-Ville Hotel & Residences Ltd. to develop a five-star Ritz-Carlton hotel, condominiums and underground parking on the Par-la-Ville car park site.

Announcing the news, Mayor of Hamilton Sutherland Madeiros said: "The ground lease is a major step towards bringing a five-star hotel to Hamilton.

"The lease contains certain conditions that must be met by Par-la-Ville Hotel & Residences Ltd. prior to the development of the site.

"The Corporation looks forward to continuing to work with the developer to bring the Ritz-Carlton to Hamilton."