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:4069)
Address
BLOCK 25 N/A
List Price
$4,950,000
Property Type
Vacant Land
Area
Ontario
Sub-Area
Mitchell
Lot Size
6.04 Sq. Ft.
MLS® Number
40695724
Listing Brokerage
AVISON YOUNG COMMERCIAL REAL ESTATE SERVICES, LP
| RE/MAX TWIN CITY REALTY INC.
Basement Area
None
Postal Code
N0K1N0
Zoning
R3
