374 Mcarthur Avenue, Ottawa, Ontario K1L 6N7

Vacant lot with shovel ready development project. Site plan approved for a 6-storey, 64-unit residential building appraised at $22M+ with ground level parking, bike storage, lockers, laundry, a gym, and more. Building permits are 75% done and land is appraised at $2.6M. Ideal for any real estate developers, or builders. **** EXTRAS **** The development scores a 100% energy rating which qualifies for CMHC MLI Select Financing program. Buyer can take advantage of heavily subsidized CMHC loans, including 50-year amortization and lowest interests rates on the market (id:27476)

A shovel-ready development project is available on a vacant lot, with an approved site plan for a 6-storey, 64-unit residential building. The property has been appraised at over $22 million and includes ground level parking, bike storage, lockers, laundry facilities, and a gym. The building permits are 75% complete, and the land itself has been appraised at $2.6 million. This opportunity is ideal for real estate developers and builders looking for a promising investment.

Additionally, the development has received a 100% energy rating, making it eligible for the CMHC MLI Select Financing program. This allows the buyer to take advantage of heavily subsidized CMHC loans, including a 50-year amortization period and the lowest interest rates on the market.

The property is currently for sale and boasts a land size of 65.92 x 190.77 FT. It is located at 374 MCARTHUR AVE in the city of Ottawa, Ontario, with a postal code of K1L6N7. The property is situated in the community of Vanier.