Description

PREMIUM RAW LOTS THAT ARE SITE PLAN APPROVED WITH 60 FOOT FRONTAGE EACH!!!! LOTS AT 159K EACH UNSERVICED FOR RARE 60' IN SOUGHT AFTER AREA!! LANDBANK FOR FUTURE HUGE RETURN OR TAKE ADVANTAGE OF HST REBATE AND BUILD IN PREMIUM AREA. BUILDERS AVAILABLE TO HELP. The regulations governing the building sector have undergone substantial modifications, notably the HST rebate applicable to all new constructions valued up to $1.85 million, which aligns perfectly with this project. Firm agreements are eligible for the rebate until March 31, 2027. Additionally, the province of Ontario is poised to reduce development fees by 50%, which is expected to apply in this context as well. This scenario is particularly advantageous for builders pursuing a medium-sized project that aims to highlight high-quality homes in an exceptional area. A draft plan has received approval for 22 premium lots in the desirable Crescent Park district of Fort Erie, presenting significant development opportunities. Each lot features a minimum frontage of 60 feet and a depth of 110 feet, representing a distinctive offering within the city. The R1 zoning designation complements the existing neighborhood aesthetics and supports single-family detached homes projected to exceed a value of $1 million. The servicing for these lots along the proposed Shayne Avenue has been approved, subject to specific conditions available upon request, along with the servicing quote. Minor variances for expanded building envelopes, accommodating features such as three-car garages, are readily achievable. Fort Erie will also allow up to 3 ADU's (Additional Dwelling Units) to be added to increase value or add inlaw opportunities under separate roof on same property. Lots of options!! Investors also have the option to collaborate with multiple builders for project execution, highlighting a compelling opportunity for developers aiming for high returns in a prime location. (id:66096)

Market Timing

Days on market

56d

Fort Erie (Crescent Park) listings, avg age

86d

List price

$3.50M

Homes here sell slower than most markets

Sold homes in this market spent an average of 62 days on the market over the past year, against a median of 48 days across the markets we publish.

Haho

This vacant land in Fort Erie (Crescent Park) has been listed for 56 days, which is 30 days fresher than the city average of 86. Act while there is still low competition.

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Area context

Neighbourhood profile (L2A)

This home lists at $3,499,850, about 48.3× the local median household income of $72,500.

Carrying it typically needs a household income of about $683,643 (20% down, 25-yr amortization, stress-tested) — roughly 843% above the area median.

Median household income: $72,500
Population: 17,293
Median age: 49.2
Owner / renter: 74% / 26%
Avg. household size: 2.3

Source: Statistics Canada, 2021 Census (FSA L2A)

$3,499,850

For sale

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Financing

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North Shayne Avenue, Fort Erie (Crescent Park) - Vacant Land for Sale

Description

Property Details

Features

Services

Market Timing

Location

Nearby Places

Neighbourhood profile (L2A)

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