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$2,499,999
Available - For Sale
Listing ID: X13075310
Fully entitled mid-rise development opportunity in one of Ottawa's most sought-after and supply-constrained corridors. This permit-ready project offers a rare combination of scale, location, and reduced approval risk, ideally suited for experienced developers seeking a high-quality urban infill site.Approved (site plan registered, all studies and engineering plans completed and approved) for a 6-storey (approx. 20m) mixed-use building comprising 19 residential units and approximately 3,000 sq. ft. of commercial space over two levels, with a total gross floor area of ~20,000 sq. ft. Situated on a 40' x 100' lot, the property benefits from a secured minor variance eliminating parking requirements, maximizing efficiency and buildable area.Positioned in the vibrant Wellington/Richmond/Island Park node, the site is surrounded by premium developments, strong demographics, and established retail amenities, supporting long-term rental and investment performance.The project has been designed and with key parameters aligned to CMHC MLI Select program requirements, including residential/commercial allocation thresholds and energy efficiency considerations. Successful qualification under CMHC's MLI Select program can provide access to highly favourable financing terms, including up to 95% loan-to-cost and amortizations of up to 50 years.All information provided is believed to be accurate but must be independently verified by the Buyer. Offering is made on an "as-is, where-is" basis. Seller makes no representations or warranties regarding development potential, approvals, financing, or projected performance. Buyers are responsible for conducting their own due diligence with respect to zoning, permits, costs, and feasibility.A rare opportunity to acquire a near shovel-ready asset in a premier urban location with significant upside potential.
Price $2,499,999
Taxes: $11,279
Assessment Year: 2025
Occupancy by: Vacant
Address: 89 Richmond Road , Westboro - Hampton Park, K1Z 6V8, Ottawa
Acreage: Not Appl
Directions/Cross Streets: Island Park Drive
Bedrooms: 0
Bedrooms +: 0
Washrooms: 0
No. of Pieces Level
Washroom 1:  0
Washroom 2:  0
Washroom 3:  0
Washroom 4:  0
Washroom 5:  0
Property Type: Vacant Land
Drive Parking Spaces: 0
CAC Included: N
Water Included: N
Cabel TV Included: N
Common Elements Included: N
Heat Included: N
Parking Included: N
Condo Tax Included: N
Building Insurance Included: N
Fireplace/Stove: N
Central Vac: N
Laundry Level: Syste
Ensuite Laundry: F
Utilities-Cable: A
Utilities-Hydro: A
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Asking Price: $ Heating: $ /Year  
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Taxes:   $ /Year Other Debt: $ /Year  
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CMHC/GE $ $ $ $
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Expenses $ $ $ $
Total Payment $ $ $ $
Income Required $ $ $ $

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Although the information displayed is believed to be accurate, no warranties or representations are made of any kind.
RE/MAX HALLMARK REALTY GROUP

89 Richmond Road , Westboro - Hampton Park, K1Z 6V8, Ottawa

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Maria Tompson
Sales Representative
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905-361-0512
Fax:
905-361-0853

 
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Type: Freehold - Vacant Land
Area: Ottawa
Municipality: Westboro - Hampton Park
Neighbourhood: 5002 - Westboro South
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Lot Size: x 100.00(Feet)
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Tax: $11,279
Maintenance Fee: $0
Beds: 0
Baths: 0
Garage: 0
Fireplace: N
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