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$5,500,000
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Key Details
Property Type Commercial
Sub Type Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID X12536578
Annual Tax Amount $12,337
Tax Year 2024
Property Sub-Type Land
Property Description
This assembly of five properties in a rapidly expanding area of Kitchener offers a rare opportunity for high-density residential development, spanning 0.64 acres of MU-3 zoned land. The site is strategically located between two similar developments and bordered to the west by the Light Rail Transit (LRT) system on Charles St. E. Pre-consultations with city planners and regional precedents indicate the potential for increased density through higher Floor Area Ratio (FAR) and Gross Floor Area (GFA) allowances. With frontage on King, Borden, and Charles streets, the property offers exceptional access. Preliminary site plan modeling suggests approval for approximately 304 units in a single tower configuration. The accompanying photos highlight the property's boundaries and the potential high-rise development.
Location
Province ON
County Waterloo
Area Waterloo
Zoning MU - 3
Exterior
Utilities Available None
Lot Frontage 0.64
Others
ParcelsYN No
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Listed by CHESTNUT PARK REALTY(SOUTHWESTERN ONTARIO) LTD
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