$4,995,000
Hamilton
50 Creighton Road, Hamilton (Dundas), Ontario, L9H3B6
PRIME DEVELOPMENT OPPORTUNITY: This 2.39-acre waterfront property on Spencer Creek in downtown Dundas is currently being rezoned('Medium Density Multiple Dwelling-RM3 Modified') for an 8-storey, 120-unit condominium development. The zoning will also allow for a retirement facility and there is still a massive upside potential with a maximum build allowance up to 12 storeys and 170 units. A full application has been submitted including the following studies: Hydrogeological; Geotechnical; Functional Servicing & Stormwater Management; Noise Impact; Sun/Shadow; Wind; Parking Analysis & Transportation Management. This luxury apartment style building will comprise of one, two, and three-bedroom configurations. The building is designed with recessed balconies enhancing its visual appeal. To accommodate residents, the development includes a total of 144 parking spaces in an underground garage along with 120 storage lockers and dedicated bicycle parking.However, a revised zoning by-law will allow for a reduction to a total of 78 spaces significantly reducing the underground requirements. A rooftop amenity space is also included in the plan. Access to the site is from the west side of Creighton Road, ensuring efficient circulation for both residents and visitors. The site is currently occupied by a single-storey building containing 10 rental units with plenty of interim opportunity. Located directly in front of Spencer Creek Trail connecting to the entire Dundas Valley Conservation with easy access to Webster Falls and the Dundas Valley Golf and Curling Club. This site is conveniently located on a bus route and just steps to the historic downtown Dundas with a vibrant mix of restaurants, shopping and amenities. This development represents a strategic use of land in alignment with the City of Hamilton's Urban Official Plan and Design Guidelines. It notably advances the core objectives of intensification while considering the form and functional characteristics of the area. (id:66096)
Features and services as supplied by the listing brokerage.
Long Listed: 90 days on market, against an average age of 68 days across the listings currently for sale in this city
This vacant land in Hamilton (Dundas) is available now. Want me to connect you with the agent or keep you posted on any price updates?
Approximate location — exact address confirmed upon showing
This home lists at $4,995,000, about 47.1× the local median household income of $106,000.
Carrying it typically needs a household income of about $975,698 (20% down, 25-yr amortization, stress-tested) — roughly 820% above the area median.
Source: Statistics Canada, 2021 Census (FSA L9H)
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