Size
-
Lot size
809.19 sqm
Street frontage
S
Possession
Flexible
Price per sqm
-
Taxes
$12,000 (2023)
Parking Type
-
Style
-
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Description
Prime opportunity in Downtown St. Catharines! Situated in the vibrant heart of the city, just north of the Highway 406 / Geneva Street interchange, this property offers immense potential for high-density residential development, with a capacity for 100 to 200 units. Moreover, recent governmental initiatives have significantly enhanced the feasibility of development. The lifting of GST self-assessment for purpose-built rental projects by the federal government, coupled with the anticipated full HST rebate from the provincial government, promises substantial cost reductions of up to 10%. Additionally, St. Catharines' 2015 Community Improvement Plan offers a range of subsidies and incentives, including the Tax Increment Financing Program ("TIF"), which provides rebates on realty tax assessment increases over a decade post-development, further enhancing the project's economic viability. Nestled amidst a mix of heritage structures and contemporary developments, the site presents an attractive infill opportunity adjacent to the Niagara Transit Commission terminal. The surrounding area boasts a plethora of local retail shops, restaurants, cafes, and personal service amenities, ensuring convenience and a thriving community ambiance.
EXTRAS:
EXTRAS:
Broker: RE/MAX ESCARPMENT REALTY INC.
MLS®#: X8280098
Property details
Parking:
-
Parking type:
-
Property type:
Vacant Land
Heating type:
-
Style:
-
MLS Size:
-
Lot front:
20.42 M
Lot depth:
39.62 M
Listed on:
Apr 30, 2024
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