Lands Mitchell, Ontario

Residential Development Opportunity in Mitchell, Ontario — Over 10 acres of vacant residential land available, divided into three phases and currently zoned R3. The Sellers are actively pursuing R4 zoning for approximately 6 acres, which would support up to 216 stacked townhome units under current plans. R4 zoning permits a variety of residential uses including apartment buildings (up to four storeys), townhouses, stacked townhouses, nursing homes, and retirement residences. An additional 2 acres are suitable for semi-detached or detached homes. There is also an additional 7 fully serviced semi-detached lots—allowing for 14 units—are ready for immediate construction. Recognizing the evolving needs of the area, the Sellers are willing to consider property severance, allowing for 18 unit stacked townhouse blocks to be sold separately, with up twelve blocks available, to accommodate various development aspirations. As the pre-consultation is scheduled for April, now is the opportune moment to explore this promising investment prospect. (id:4555)