Welcome to this remarkable [] vacant land located in the coveted neighborhood of 772 - Broadway. Offering a sublime balance of structural integrity and modern aesthetic appeal, this residence presents an exceptional opportunity offered at $1,200,000 to acquire a beautiful home in a highly sought-after setting. Designed for both comfortable daily living and elegant entertaining, the layout maximizes natural light, functional flow, and lifestyle utility.
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.
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Data-driven valuation for 1 DREW Street, Welland, ON L3C 5H8
Based on 0 recent similar sales in the pocket.
Properties in this area are selling at a steady pace.
No schools found within 3 km of this property.
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