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$3,980,000
Available - For Sale
Listing ID: X13585776
Ready-to-build development, ideally located beside an award-winning recreation centre and Battlefield House Museum & Park. Zoned and Approved 8-storey mid-rise with approx. 66,500 sq. ft. of buildable area. CMHC package ready for purpose-built rental with $2,200,000 Potential Gross Income, or option to build as condominiums or retirement living complex. 75 residential units + 3 ground-floor retail/commercial units: 6 Studio, 6 One Bedroom, 26 One Bedroom + Den, 32 Two Bedroom, and 5 Three Bedroom units. Includes 2 levels of underground parking (51 parking spaces), 64 bicycle storage spaces, 27 lockers, and 2 elevators. Approvals & reports in place: Site Plan Approval (SPA), Committee of Adjustment final & binding decision, encroachment agreement, private waste collection agreement, energy modelling, Sustainable Building Canada study, and full commercial appraisal (reproduction cost new, income approach, and direct comparison approach). Development incentives: over TWO Million Dollar in savings via 50% Ontario reduction on development charges, also NO HST on construction costs for purpose-built rental buildings. Eligible for select programs offered by the City of Hamilton. Transit & connectivity: Bus stop at property with direct access to Hamilton's 7 main hospitals, McMaster University and other colleges, quick connection to Toronto via GO Transit, minutes to QEW GO Station, and approx. 4-minute drive to future Hamilton LRT. Features a rooftop garden and interior amenity space with clear mountain views. Retails with 14' clear height and Residential ceiling heights: 9' (2nd-5th floors), 10' (6th floor), and 11' penthouse level. Excellent opportunity for developers and investors in a high-demand, transit-connected community with pool, ice-rink and other amenities next door! Vendor Take-Back (VTB) mortgage available to qualified purchasers at the Seller's sole discretion.
Price $3,980,000
Taxes: $5,000
Tax Type: Annual
Occupancy by: Tenant
Address: 61-63 King Street West , Hamilton, L8G 1H7, Hamilton
Postal Code: L8G 1H7
Province/State: Hamilton
Legal Description: PT LT 26 CON 4 SALTFLEET (A.K.A. PCLS 26
Directions/Cross Streets: King St. W and Centennial Pkwy S (20)
No. of Pieces Level
Washroom 1:  0
Washroom 2:  0
Washroom 3:  0
Washroom 4:  0
Washroom 5:  0
Washroom 6:  0
Washroom 7:  0
Washroom 8:  0
Washroom 9:  0
Washroom 10:  0
Washroom 11:  0
Washroom 12:  0
Washroom 13:  0
Washroom 14:  0
Washroom 15:  0
Washroom 16:  0
Washroom 17:  0
Washroom 18:  0
Washroom 19:  0
Washroom 20:  0
Category: Designated
Building Percentage: T
Total Area: 15,340
Total Area Code:  Square Feet
Area Influences: Public Transit   Recreation/Comm
Maintenance: 0
Sewers: Sanitary Availa
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PAM REALTY LTD.

61-63 King Street West , Hamilton, L8G 1H7, Hamilton


 
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Type: Com - Land
Area: Hamilton
Municipality: Hamilton
Neighbourhood: Stoney Creek
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Lot Size: x 113.00(Feet)
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Tax: $5,000
Maintenance Fee: $0
Beds: 0
Baths: 0
Garage: 0
Fireplace: N
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