Option for Building 6 Luxury Townhouses More Photos

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    For Sale - 298 Newton Drive, Toronto, Ontario

    Est payment $9,546/mo
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    Time on Jump  1 days

    AI Summary *

    • Solid brick home featuring 4+1 bedrooms and 4 washrooms.
    • High exposure corner lot, ideal for residential or commercial ventures.
    • Potential for multiple residential units under updated city zoning.
    • Options for development include townhouses or multi-unit rentals.
    • Strategic location with easy access to transit and amenities.




    This two-storey solid brick home with 4+1 bedrooms and 4 washrooms, situated in a high exposure strategic location right on the prime corner of bayview ave & newton dr, with a 101 feet exposure on bayview ave and 83' on newton drive, it offers a rare opportunity for investors, developers, or visionary homeowners, suitable for living, rental income, or great opportunity for future development!! Under the city's updated zoning and intensification guidelines, the lot may support the creation of multiple residential units, making it an ideal candidate for multi-unit housing **, income properties, or a modern townhouse project! ** possible options:1) current owner has the re-zoning city approval for six (6) 3-storey freehold townhouse units, with vehicular access from newton drive and 6 parking spaces, (with ready n. O. A. C from city)! 2) 3-storey multi unit purpose built rental as per ** cmhc mli select **! 3) under the ehon intuitive bylaw, allowing for the creation of a 4-story stacked townhouse community of up to 19 units!! 4) for those considering a larger vision, the property's strategic location and assembly potential with adjacent lots enable the possibility of a 6-storey boutique condo project, accommodating up to 60 units. The corner positioning allows for flexible access and site design options! What truly sets this property apart is its significant redevelopment potential. Buyer/buyer agent to verify all information and proposals with city planner! Whether you're looking to live, invest, or build, this is a unique opportunity to secure a high-exposure/ strategic property with strong upside in a growing urban area. Opportunities like this are increasingly rare-explore the possibilities and unlock the full potential of this prime corner lot, convenient access to transit, all amenities, and key urban!! The proposed renderings are attached
    Listing IDC12953274
    Address298 Newton Drive
    CityToronto, Ontario
    Price$1,988,000
    Bath3 Full
    StyleLand
    TypeVacant Land
    StatusFor Sale

    Subtype LandHeating / Cooling Gas Forced Air ClosedSewer Sanitary+Storm

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    Listing Agency:  RE/MAX REALTRON BIJAN BARATI REAL ESTATE

    * Data is provided courtesy of PROPTX. The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial purpose or any other purpose. The information is deemed reliable but is not guaranteed accurate by PROPTX.

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    298 Newton Drive
    Toronto , Ontario
    3 $1,988,000
    Get more info