238-240 Berkeley Street, Toronto C08, ON M5A 2X4

Opportunity to acquire a fully approved development site for 6 freehold townhomes, each on separately deeded lots. The site comes with architectural drawings and detailed renderings, offering a turnkey solution for immediate development. Additionally, theres potential for higher density through further approvals, with current zoning already allowing up to 15 dwelling units as-of-right. Each townhome spans approximately 2,000 square feet, with an option to increase to 2,400 square feet by eliminating the garages, offering flexible design and space optimization. –> Cleared Site, eliminating the need for costly and time-consuming demolition –> No tenants to evict and no rental replacement requirements, streamlining the development process –> Development Charge Savings, 4 development credits due to the previous duplexes on-site. Build 6 townhomes while paying development charges for only 2 units. No development charges if the site is converted to three 5-unit multiplexes –> Spacious lot dimensions: 15.58m x 37.18m (511 x 1220) — Vendor Take-Back Mortgage Available –> Zoned and Site Plan Approved, can go straight to building permits –> Additional Potential: Build up to 15 units as-of-right, with support for higher density with additional approvals –> Proximity to Financial District –> Growth area and is seeing substantial development, including new residential, commercial, and mixed-use projects that are transforming the neighbourhood and upcoming Ontario Line TTC Subway Station only a 10-minute walk, Toronto Metropolitan University and the University of Toronto nearby. **EXTRAS** Included: Architectural drawings for 6 freehold townhomes with backyard and garage. 6 lots with individual PINS. Additional density can be achieved. Potential for CMHC funding options. Possible to buy one row of townhouses (3/6 lots).

Details

MLS® Number
C11931506