MLS# H4029975 Price: $1,550,000
Excellent opportunity to purchase a prime 0.9-acre (39,204 sq ft) high density residential development site in North Welland backing onto a public park and steps from Seaway Mall. Active site plan approval and building permit applications are underway with the City of Welland to permit the construction of a 7-storey, 42-unit apartment building, consisting of 2 and 4-bedroom units. Amazing opportunity to build and operate a CMHC backed 160+ bed student housing complex due to close proximity of the site to Niagara College(less than a 10-min walk) and Brock U.(20-min bus ride with bus stop less than 100m from development site). With ultra low vacancy rates in Welland, booming international student enrollment and rising rents, this is a perfect investment opportunity to get in to Niagara's growing student housing market. Copies of architectural drawings, planning studies, permits, city agreements, surveys, engineering drawings, Phase 1 environmental site assessment, geotechnical/soil studies, archaeological assessments, feasibility studies, market research, promotional/marketing materials and interior design specifications will be made available to serious purchasers for review upon a conditional offer to purchase and subject to a confidentiality agreement. VTB MORTGAGE OPTION ARE ALSO AVAILABLE FOR SERIOUS AND QUALIFIED PURCHASERS. The property is currently improved with a one storey single-family home to be demolished upon approval of site plan application.
68 Somewhat Walkable
0 No Nearby Transit
Property Details: 699 NIAGARA Street (near Niagara & Woodlawn )
||699 NIAGARA Street
||Niagara & Woodlawn
||N. Welland (767)
|Lease Rate Per
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