Property Description

6-UNIT DEVELOPMENT - FINAL STEPS TO BUILDING PERMIT: Acquire a highly advanced infill development and skip much of the lengthy planning and approval process. This vacant development site is designed for six residential units - four contemporary 2-bedroom street townhomes plus two additional residential units - and has progressed through most of the municipal approval and building permit process. Offered at approximately $73,333 per proposed unit, this is an opportunity for a builder, developer or investor to acquire a project already significantly advanced toward construction rather than starting with raw land and navigating the municipal approval process from the beginning. Designed as a purpose-built rental development, the project may qualify for applicable rental housing. Development Charge incentives/payment provisions. Buyer to confirm eligibility and applicable amounts with the City. Minimal municipal reviews and requirements remaining. The City will progress the remaining reviews following payment of applicable permit fees and Development Charges. Located in Port Colborne's evolving East Village/waterfront area, close to Nickel Beach, the Welland Canal, marina, downtown shops, restaurants and waterfront recreation. Vendor Take Back financing may be available to a qualified buyer. Artist's renderings illustrate the proposed development and are provided for visualization purposes only. Property is being sold as vacant development land together with the applicable plans and existing municipal approvals/reviews. Buyer to complete independent due diligence regarding the status and transferability of plans, approvals and permit application; outstanding municipal reviews and requirements; Development Charges and available incentives/deferrals; permit and other municipal fees; servicing; construction costs; projected rents; and financing. Building permit issuance remains subject to completion of all outstanding municipal requirements and final City approval. (id:7434)