61-63 King Street W, Hamilton, ON L8G 1H7
Hamilton, ON L8G 1H7
About this property
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.
Property facts & features
- Property type
- Vacant Land
- MLS® number
- X13585868
- Source status
- Price Change
- Bedrooms
- 0
- Bathrooms
- 0
- Reported interior area
- Not provided
- Neighbourhood
- Not provided
- Postal code
- L8G 1H7
- Parking spaces
- 51
- Garage
- Built-In
- Lot depth (source units)
- 113
- Annual property tax
- 5000
- Basement
- Not provided
- Laundry
- Not provided
- Interior features
- Not provided
- Exterior features
- Not provided
Values and units are reported by the listing source. Verify measurements and fees with the brokerage.
Floor plans & room measurements
Floor plans and verified room measurements are not available for this property.
Property value & listing history
Price Change · $3,500,000
Multi-event history, valuations and sold comparables require verified property identity and display permissions. No historical events or estimated values have been inferred.
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Explore active properties in Hamilton →Listing brokerage: PAM REALTY LTD.. Displayed by EnterHome Realty. Source: authorized IDX record, MLS® X13585868. Information deemed reliable but not guaranteed.