Investment opportunity in the heart of East London's bustling commercial district. Positioned east of downtown, this prime redevelopment site offers the potential for high-rise apartment buildings. Boasting close proximity to an array of locally-owned shops, eclectic restaurants, and cultural landmarks. The proposed site plan, complete with city feedback, outlines the possibility of two 6-storey buildings, reflecting the exciting vision for development. Current zoning density allows for up to 250 units per hectare, with the opportunity for further density increases through a zoning amendment. Recent changes eliminating parking requirements for new residential developments along Dundas Street streamline the process, enhancing the project's feasibility. Phase 2 environmental assessment completed. Currently leased to two tenants, the property offers immediate rental income, providing a steady cashflow while awaiting redevelopment. **** EXTRAS **** See Brochure package in documents for site details. Documents also include proposed site plan and elevation drawings (id:4555)
PROPERTY SPECS
Listing ID X8139764
Address 798-812 DUNDAS STREET
City London, ON
Price $2,995,000
Land Size Bldg=166.25 x 204.23 FT
Status For sale
EXTENDED FEATURES
Amenities NearbyPublic Transit, RecreationCoolingFully air conditionedHeatingForced airHeating FuelNatural gasUtility WaterMunicipal waterDate Listed2024-06-04 14:01:37Days on Market104