6
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$3,499,850
Est. payment /mo
Active
NORTH SHAYNE AVENUE Fort Erie (crescent Park), ON L2A5M4
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Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
Subdivision 334 - Crescent Park
MLS® Listing ID X12944684
Property Description
The regulations governing the building sector have undergone substantial modifications, notably the HST rebate applicable to all new constructions valued up to $1.85 million, which aligns perfectly with this project. Firm agreements are eligible for the rebate until March 31, 2027. Additionally, the province of Ontario is poised to reduce development fees by 50%, which is expected to apply in this context as well. This scenario is particularly advantageous for builders pursuing a medium-sized project that aims to highlight high-quality homes in an exceptional area. A draft plan has received approval for 22 premium lots in the desirable Crescent Park district of Fort Erie, presenting significant development opportunities. Each lot features a minimum frontage of 60 feet and a depth of 110 feet, representing a distinctive offering within the city. The R1 zoning designation complements the existing neighborhood aesthetics and supports single-family detached homes projected to exceed a value of $1 million. The servicing for these lots along the proposed Shayne Avenue has been approved, subject to specific conditions available upon request, along with the servicing quote. Minor variances for expanded building envelopes, accommodating features such as three-car garages, are readily achievable. Fort Erie will also allow up to 3 ADU's (Additional Dwelling Units) to be added to increase value or add inlaw opportunities under separate roof on same property. Lots of options!! Investors also have the option to collaborate with multiple builders for project execution, highlighting a compelling opportunity for developers aiming for high returns in a prime location. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Exterior
Parking Features No
View Y/N No
Attached Garage No
Garage No
Private Pool No
Listed by ROYAL LEPAGE NRC REALTY