Prime opportunity in Downtown St. Catharines! Situated in the vibrant heart of the city, just north of the Highway 406 / Geneva Street interchange, this property offers immense potential for high-density residential development, with a capacity for 100 to 200 units. Moreover, recent governmental initiatives have significantly enhanced the feasibility of development. The lifting of GST self-assessment for purpose-built rental projects by the federal government, coupled with the anticipated full HST rebate from the provincial government, promises substantial cost reductions of up to 10%. Additionally, St. Catharines' 2015 Community Improvement Plan offers a range of subsidies and incentives, including the Tax Increment Financing Program ("TIF"), which provides rebates on realty tax assessment increases over a decade post-development, further enhancing the project's economic viability. Nestled amidst a mix of heritage structures and contemporary developments, the site presents an attractive infill opportunity adjacent to the Niagara Transit Commission terminal. The surrounding area boasts a plethora of local retail shops, restaurants, cafes, and personal service amenities, ensuring convenience and a thriving community ambiance.
详情
- 上市时间: Monday, April 29, 2024
- 城市: St. Catharines
- 详细地址: 164 King Street, St. Catharines, L2R 3J4, Ontario, Canada
- 挂盘公司: Re/Max Escarpment Realty Inc. - Disclaimer: The information contained in this listing has not been verified by Re/Max Escarpment Realty Inc. and should be verified by the buyer.
