ON > St. Catharines
St. Catharines, ON L2R 3J4,164 King ST
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St. Catharines, ON L2R 3J4,164 King ST
St. Catharines, ON L2R 3J4,164 King ST
St. Catharines, ON L2R 3J4,164 King ST
St. Catharines, ON L2R 3J4,164 King ST
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Jethro Seymour

Jethro Seymour

+1(416) 712-0767
$ 1
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164 King ST St. Catharines, ON L2R 3J4

UPDATED:

10/26/2024 05:15 AM

Key Details

Property Type Vacant Land

Sub Type Vacant Land

Listing Status Pending

Purchase Type For Sale

Approx. Sqft < 700

MLS Listing ID X8280098

Annual Tax Amount $12,000

Tax Year 2023

Appx SqFt < 700

Property Description

Prime opportunity in Downtown St. Catharines! Situated in the vibrant heart of the city, just north of the Highway 406 / Geneva Street interchange, this property offers immense potential for high-density residential development, with a capacity for 100 to 200 units. Moreover, recent governmental initiatives have significantly enhanced the feasibility of development. The lifting of GST self-assessment for purpose-built rental projects by the federal government, coupled with the anticipated full HST rebate from the provincial government, promises substantial cost reductions of up to 10%. Additionally, St. Catharines' 2015 Community Improvement Plan offers a range of subsidies and incentives, including the Tax Increment Financing Program ("TIF"), which provides rebates on realty tax assessment increases over a decade post-development, further enhancing the project's economic viability. Nestled amidst a mix of heritage structures and contemporary developments, the site presents an attractive infill opportunity adjacent to the Niagara Transit Commission terminal. The surrounding area boasts a plethora of local retail shops, restaurants, cafes, and personal service amenities, ensuring convenience and a thriving community ambiance.

Location

Province ON

County Niagara

Rooms

Kitchen 0

Interior

Interior Features None

Listed by RE/MAX ESCARPMENT REALTY INC.

Jethro Seymour

Broker

+1(416) 712-0767

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164 King ST

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