Modern multi-story building featuring extensive glazing, private balconies with glass railings, a recessed upper level, and rooftop landscaping Features: apartment complex view More Photos

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

    Est payment $19,112/mo
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    Time on Jump  3 day




    Rare real estate opportunity, ready-to-build development in the best part of stoney creek, ideally located beside an award-winning recreation centre and battlefield house museum & park. Proposed 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$3,980,000
    StyleLand
    TypeVacant Land
    StatusFor Sale

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

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    Listing Agency:  PAM REALTY LTD.

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    61-63 King Street
    Hamilton , Ontario
    $3,980,000
    Get more info