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$4,950,000
Est. payment /mo
6.04 Acres Lot
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Other, See Remarks
Listing Status Active
Purchase Type For Sale
Subdivision 65 - Town Of Mitchell
MLS® Listing ID 40695724
Originating Board Cornerstone - Waterloo Region
Lot Size 6.040 Acres
Acres 263102.4
Property Sub-Type Other, See Remarks
Property Description
Located in Mitchell, Ontario, this exceptional 6.04 acre parcel of vacant residential land presents a prime development opportunity. Currently zoned R3, the property allows for single detached and semi-detached homes. However, the sellers are actively pursuing R4 zoning approval, anticipated for Q2-Q3 of 2025, which would enable mid-density development. Preliminary conceptual plans, reviewed by the municipality, propose up to 216 stacked townhome units on the site. The prospective R4 zoning will further expand development possibilities to include apartment and condominium buildings (up to four stories), townhomes, stacked townhomes, nursing homes and retirement residences, among other permitted uses. To accommodate diverse development strategies, the Sellers are open to holding financing contingent on the strength and background of the purchaser. (id:24570)
Location
Province ON
Exterior
Parking Features No
View Y/N No
Private Pool No
Building
Sewer Municipal sewage system
Others
Ownership Other, See Remarks
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Listed by AVISON YOUNG COMMERCIAL REAL ESTATE SERVICES, LP