Primary photo of 1 DREW STREET, Welland (Broadway)
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Vacant Land For Sale

$1,200,000

1 DREW STREET

MLS® Number: X12764630

Bathrooms

0

About This Property

Residential Development Site. Property is zoned RL2 which allows for singles, semis, townhomes and multiple dwellings. Lot is approximately 0.7 hectares. Current official plan allows for maximum density of 24 units per net hectare which equates to 16.8 units. Application could be made to apply for a potential change to medium density of 25 to 60 dwelling units and as high as a 6 storey building or to a high density zoning which would allow for 61 to 125 dwelling units per net hectare and up to an 8 storey apartment building. Free pre-consultation virtual appointments available with the city. According to city staff, the city appears open to moving the development of this property to a higher density. Phase One Environmental Site Assessment and a Proposal for a Phase Two ESA were completed in the past. Potential offers from city regarding brownfield incentives such as site assessment grant for Phase Two and if clean up is required there is a tax increment grant program, rebates of planning and building fees, city and regional development charges exemption, etc. See city planning staff for complete details. Although MPAC states frontage of 120 feet, the property technically has its frontage on Kline's Avenue with two frontages there - one being 25 feet and one 60 feet on the unimproved portion at end of Kline's Avenue. Potential access for development also from Drew Street. Note: Known as 1 Drew Street however no actual municipal address.

Property Details

Interior Details

Bathrooms Total

0

Building & Exterior

Parking Features

No Garage

Land & Location

City Region

772 - Broadway

Frontage Length

120.0 feet

Lot Size Dimensions

120 x 686 FT

Postal Code

L3C5H8

Utilities & Services

Utilities

Sewer, Electricity, Cable

Listing & Financials

Listing Office

RE/MAX HENDRIKS TEAM REALTY

Originating System Name

Niagara Association of REALTORS®

Other Specifications

Country

Canada

Mortgage Calculator

20% ($240,000)
5.5%
25 Years

Estimated Monthly Payment

$5,895

Principal and interest only. Actual rates may vary.

Location & Map

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List Property1 DREW STREET - Vacant Land for Sale in Welland (Broadway), Ontario | MLS® X12764630