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    For Sale - 61-63 King Street, Hamilton, Ontario

    Est payment $16,807/mo
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    Views   2
    Time on Jump  79 day

    AI Summary *

    • Ready-to-build site near a recreation center and museum.
    • Zoned for an 8-storey mid-rise with over 66,500 sq. ft. available.
    • Potential for 75 residential units and 3 commercial spaces.
    • Includes underground parking, bicycle storage, and elevators.
    • Transit access to key locations, with rooftop garden and amenities.




    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.
    Listing IDX13585776
    Address61-63 King Street
    CityHamilton, Ontario
    Price$3,500,000
    StyleLand
    TypeVacant Land
    StatusFor Sale

    Subtype LandCommunity Features Public Transit, Recreation/Community CentreSewer Sanitary Available

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    Listing Brokerage: PAM REALTY LTD.

    * 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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    61-63 King Street
    Hamilton , Ontario
    $3,500,000
    Get more info