61-63 King St W, Hamilton, L8G 1H7

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Description

Stunning ready-to-build development in the best part of Stoney Creek, ideally located beside an award-winning recreation center 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, or option to build as condominiums or retirement living complex. 75 residential units: 6 Studio, 6 One Bedroom, 26One Bedroom + Den, 32 Two Bedroom, and 5 Three Bedroom units. Includes 3 ground-floor retail/commercial units, 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!

5 days

On Market

Vacant Land

Property Type

$5,000 / Year

Est. Taxes

Other

Style

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Garage

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Basement