Exceptional development opportunity in a high-traffic, high-demand commercial corridor, strategically positioned directly across from Cineplex and surrounded by established restaurants, cafés, and national retail. This prime parcel benefits from outstanding visibility, strong pedestrian activity, and a proven consumer base. The site currently features one commercial building and three residential dwellings, generating stable interim income to offset holding costs while development approvals and planning are advanced. Existing zoning supports two compelling development scenarios. The first contemplates a nine-storey mixed-use condominium with approximately 232 residential units and ground-floor commercial space. The second allows for two six-storey purpose-built rental buildings totalling 99 units, also with retail at grade and well positioned to leverage CMHC-backed rental financing programs. Both concepts align with the area's continued intensification, population growth, and sustained demand for mid-rise, transit-oriented residential living. With walkable amenities, strong demographics, and flexible mixed-use potential, this asset offers meaningful upside for developers and investors seeking either near-term execution or a strategic long-term hold in a thriving commercial node. Some photos are renderings. (id:4069)
Address
202-196 UPPER MOUNT ALBION Road
List Price
$8,199,900
Property Type
Vacant Land
Transaction Type
Sale
Area
Ontario
Sub-Area
Stoney Creek
Lot Size
1.317 Sq. Ft.
Lot Depth
200 ft
Frontage Length
285 ft
MLS® Number
40800434
Listing Brokerage
RE/MAX Aboutowne Realty Corp.
Basement Area
None
Postal Code
L8J1V4
Zoning
C5
Ownership
Freehold
Site Influences
Public Transit, Schools
Community Features
High Traffic Area
Water Source
Municipal water
Sewer
Sanitary sewer
