0 Bedroom Real Estate has been listed for sale at BLOCK 25 N/A in Mitchell for $4,800,000. Chat with a local expert, book a tour.

Mitchell

Block 25 N/a

BLOCK 25 N/A, For Sale in Mitchell - eXp Realty

Located in Mitchell, Ontario, this exceptional 6.04 acre parcel of vacant residential land presents a prime development opportunity. Currently zoned R3, the property allows for single detached and semi-detached homes. However, the sellers are actively pursuing R4 zoning approval, anticipated for Q2-Q3 of 2025, which would enable mid-density development. Preliminary conceptual plans, reviewed by the municipality, propose up to 216 stacked townhome units on the site. The prospective R4 zoning will further expand development possibilities to include apartment and condominium buildings (up to four stories), townhomes, stacked townhomes, nursing homes and retirement residences, among other permitted uses. To accommodate diverse development strategies, the sellers are open to holding financing contingent on the strength and background of the purchaser.

Located in Mitchell, Ontario, this exceptional 6.04 acre parcel of vacant residential land presents a prime development opportunity. Currently zoned R3, the property allows for single detached and semi-detached homes. However, the sellers are actively pursuing R4 zoning approval, anticipated for Q2-Q3 of 2025, which would enable mid-density development. Preliminary conceptual plans, reviewed by the municipality, propose up to 216 stacked townhome units on the site. The prospective R4 zoning will further expand development possibilities to include apartment and condominium buildings (up to four stories), townhomes, stacked townhomes, nursing homes and retirement residences, among other permitted uses. To accommodate diverse development strategies, the Sellers are open to holding financing contingent on the strength and background of the purchaser.

Nestled within the charming community of Mitchell, Ontario, lies a pristine 6.03 acre parcel of vacant residential land, currently zoned R. However, the landscape is set to evolve as the sellers are currently working to secure R4 zoning, opening the doors to high-density development. This unique property offers a canvas for diverse housing options, for single homes and semi-detached residences to townhouses and stacked townhomes. Additionally, with the potential for apartments up to four stories high, as well as the inclusion of nursing homes and retirement facilities, the scope for community enrichment is boundless. Recognizing the evolving needs of the area, the sellers are willing to consider property severance, allowing for a minimum of three acres to accommodate various development aspirations. As the pre-consultation is scheduled for April, now is the opportune moment to explore this promising investment prospect.

Block 25 N/a, Mitchell, ON

Real Estate

Key Facts

Description

Extras

Similar Listings

Like what you see?