Property Description

Everything in it is backed by the documents we reviewed: Rezoned Danforth Development Site with Up to $500,000 VTB Available. A rare zoned mid-rise opportunity on the Danforth, approx. 350 m from Coxwell Station (Line 2) and within a Major Transit Station Area. Zoning By-law 703-2023, passed by Toronto City Council in July 2023, permits a 7-storey mixed-use building of up to 1,475 m2 GFA, with 16 residential units above ground-floor retail. The by-law includes a holding (H) provision tied to servicing confirmation; details in the due diligence package. Years of planning work are already in place. Available materials include the planning and urban design rationale, architectural drawings resubmitted for Site Plan Approval (2022), structural and mechanical drawing sets, an environmental site assessment, a hydrogeological review (2021), a geotechnical investigation, a survey, and a 2025 architectural test fit of an alternative scheme. The site sits on a stretch of the Danforth guided by the City's Danforth Avenue Planning Study and Site and Area Specific Policy 552, which support mid-rise intensification with active retail at grade. Excellent transit access, with Woodbine Station also nearby and bus routes on Coxwell and Woodbine. To help you move quickly, the seller will consider a vendor take-back mortgage of up to $500,000, on terms to be negotiated. Less upfront equity, more capital for design and approvals. Buyer to conduct own due diligence on zoning, holding provision, site plan status, environmental condition and permitted tenure. Reports provided for information only. Contact listing agent for data room access.If the seller confirms in writing that no appeal was filed, you could add "No appeals were filed; the by-law is in force," which is about 50 characters. Before the listing goes live, get the $500K VTB confirmed in writing by the seller. (id:7434)