Located in Mitchell, Ontario, this exceptional 6.04 acre parcel of vacant residential land presents a prime development opportunity. Currently zoned R3, the property allows for single detached and semi-detached homes. However, the sellers are actively pursuing R4 zoning approval, anticipated for Q2-Q3 of 2025, which would enable mid-density development. Preliminary conceptual plans, reviewed by the municipality, propose up to 216 stacked townhome units on the site. The prospective R4 zoning will further expand development possibilities to include apartment and condominium buildings (up to four stories), townhomes, stacked townhomes, nursing homes and retirement residences, among other permitted uses. To accommodate diverse development strategies, the Sellers are open to holding financing contingent on the strength and background of the purchaser. (id:47421)
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Listed By
AVISON YOUNG COMMERCIAL REAL ESTATE SERVICES, LP, RE/MAX TWIN CITY REALTY INC.
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Detailed Information
Listing Contract Date
2025-02-03
Location Description
Near Napier Street and Clayton Street, Mitchell, ON.
Ownership Type
Other, See Remarks
Property Type
Vacant Land
Transaction Type
For sale
Zoning Description
R3
Building
Basement Type
None
Utility Water
Municipal water
Land
Total Size
6.04 acres
Access Type
Road access
Acreage
Yes
Sewer
Municipal sewage system
Size of Irregular Land
6.04
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