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Land Commercial Building for Sale

MLS# H4008894 Price: $1,550,000

Excellent opportunity to purchase a prime 0.9-acre (39,204 sq ft) high density residential development site in North Welland backing onto a public park and steps from Seaway Mall. Active site plan approval and building permit applications are underway with the City of Welland to permit the construction of a 7- storey, 42-unit apartment building, consisting of 2 and 4-bedroom units. Amazing opportunity to build and operate a CMHC backed 160+ bed student housing complex due to close proximity of the site to Niagara college (less than a 10-min walk) and to Brock U. (20 min bus ride with bus stop less than 100m from development site). With ultra low vacancy rates in Welland, booming international student enrollment and rising rents, this is a perfect investment opportunity to get into Niagara’s growing student housing market. Copies of architectural drawings, planning studies, permits, city agreements, surveys, engineering drawings, Phase 1 environmental site assessment, geotechnical/soil studies, archaeological assessments, feasibility studies, marketing research, promotional/marketing materials and interior design specifications will be made available to serious purchasers for review upon a conditional offer to purchase and subject to a confidentiality agreement. VTB mortgage options are also available for serious and qualified purchasers. The property is currently improved with a one storey single-family home to be demolished upon approval of site plan application.

What's your Walk Score? 68 Somewhat Walkable

What's your Transit Score? 0 No Nearby Transit

Property Details: 699 Niagara Street (near Niagara & Woodlawn )
Listing# 2567

Location

Address 699 Niagara Street
City Welland
Cross Streets Niagara & Woodlawn
District Welland (7)
Neighbourhood N. Welland (767)
Listing Agent Anil Verma

Description

Sub Type Land Price $ 1,550,000
Lease Rate Per For Sale Location Welland
Square Footage 0

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Notice! Information contained herein has been obtained from sources deemed reliable. While we have no reason to doubt its accuracy we regret that we cannot guarantee it. All information subject to change and/or withdrawal without notice.

David and Ann Ryan, Sales Representatives
Office: 905-632-2199 | Direct: 905-407-4353 | info@ryanshomes.ca

RE/MAX Escarpment Realty Inc., Brokerage | 4121 Fairview St, Burlington, Ontario L7L 2A4, Canada

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