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$3,980,000
Available - For Sale
Listing ID: X13585776
61-63 King Street West , Hamilton, L8G 1H7, Hamilton
| Ready-to-build development, ideally located beside an award-winning recreation centre and Battlefield House Museum & Park. Zoned and Approved 8-storey mid-rise with approx. 66,500 sq. ft. of buildable area. CMHC package ready for purpose-built rental with $2,200,000 Potential Gross Income, or option to build as condominiums or retirement living complex. 75 residential units + 3 ground-floor retail/commercial units: 6 Studio, 6 One Bedroom, 26 One Bedroom + Den, 32 Two Bedroom, and 5 Three Bedroom units. Includes 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! Vendor Take-Back (VTB) mortgage available to qualified purchasers at the Seller's sole discretion. |
| Price | $3,980,000 |
| Taxes: | $5000.00 |
| Tax Type: | Annual |
| Occupancy: | Tenant |
| Address: | 61-63 King Street West , Hamilton, L8G 1H7, Hamilton |
| Postal Code: | L8G 1H7 |
| Province/State: | Hamilton |
| Legal Description: | PT LT 26 CON 4 SALTFLEET (A.K.A. PCLS 26 |
| Directions/Cross Streets: | King St. W and Centennial Pkwy S (20) |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 0 | |
| Washroom Type 2 | 0 | |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 | |
| Washroom Type 6 | 0 | |
| Washroom Type 7 | 0 | |
| Washroom Type 8 | 0 | |
| Washroom Type 9 | 0 | |
| Washroom Type 10 | 0 | |
| Washroom Type 11 | 0 | |
| Washroom Type 12 | 0 | |
| Washroom Type 13 | 0 | |
| Washroom Type 14 | 0 | |
| Washroom Type 15 | 0 |
| Category: | Designated |
| Building Percentage: | T |
| Total Area: | 15340.00 |
| Total Area Code: | Square Feet |
| Area Influences: | Public Transit Recreation/Comm |
| Washrooms: | 0 |
| Sewers: | Sanitary Availa |
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| PAM REALTY LTD. |
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|
Anne Saint-Amour
Sales Representative
Bus:
905-878-8101
| Book Showing | Email a Friend |
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At a Glance:
| Type: | Com - Land |
| Area: | Hamilton |
| Municipality: | Hamilton |
| Neighbourhood: | Stoney Creek |
| Tax: | $5,000 |
| Fireplace: | N |
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