A rare opportunity to acquire a development parcel in a high-demand commercial corridor directly across from Cineplex, popular restaurants, cafés, and major retail. The property includes one commercial building and three residential houses, providing reliable holding income while future development plans are advanced. The current zoning supports two strong development directions. One option allows for a nine-storey condominium concept with approximately 232 residential units and main-floor commercial space. The second supports two six-storey purpose-built rental buildings totalling 99 units, also with commercial space at grade and well aligned with CMHC-favourable rental programs. Both concepts reflect the area's ongoing growth and the strong demand for mid-rise residential living. The site offers excellent exposure, walkable amenities, and a strong demographic base. Existing income from the on-site structures helps offset carrying costs, making this a suitable opportunity for developers planning immediate progress or a strategic long-term hold. With flexible mid-rise potential and a location within an active commercial hub, this parcel presents significant upside and long-term value for a forward-thinking developer or investor. (id:4069)
Address
202-196 UPPER MOUNT ALBION ROAD
List Price
$8,490,000
Property Type
Vacant Land
Transaction Type
Sale
Area
Ontario
Sub-Area
Hamilton (stoney Creek Mountain)
Floor Area
57,226 Sq. Ft.
Lot Size
286.13 x 200 FT Sq. Ft.
MLS® Number
X12543904
Listing Brokerage
RIGHT AT HOME REALTY
Postal Code
L8J1V4
Zoning
C5
