$ 4,500,000
N/A Shayne Avenue Fort Erie, ON L2A 5M4
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Listed by Jeff Collins • ROYAL LEPAGE NRC REALTY
$ 4,500,000
Est. payment /mo
Price Dropped by $499K
N/A Shayne Avenue Fort Erie, ON L2A 5M4
UPDATED:
10/30/2024 08:38 PM
Key Details
Property Type Single Family Home
Sub Type Residential
Listing Status Active
Purchase Type For Sale
MLS Listing ID 40646219
Originating Board Niagara
Annual Tax Amount $1
Property Description
PRICE JUST DROPPED 500K TO OFFSET DEVELOPMENT CHARGES!!! 2 Million Dollar VTB POSSIBLE FOR ONE YEAR TERM AT 6% OR A $250,000 SERVICING CREDIT. (All draft plan conditions and servicing quote available upon request). Major progress has been made over the last two years, resulting in a draft plan approval for 22 premium sites, each having more than a 60-foot frontage, in the Crescent Park district of Fort Erie. This type of frontage and lot not available anywhere, city supports more density if preferred. The approval, accompanied by conditions, allows the servicing of these 22 plots along the future Shayne Avenue. Each future lot offers at least 60' x 110' in size, all zoned as R1 to harmonize with the surrounding community. This presents a highly promising opportunity for developers or builders interested in creating an affluent residential area, consisting entirely of single-family detached homes. This optimal area offers immense potential for establishing a community with homes valued at a million dollars or more. Easily increase the building envelopes with minor variance if needed. Lots could support 3 car garage homes. Additionally, there is an option of engaging 3 or 4 available builders, should an investor be seeking individuals to construct these dwellings.
Location
Province ON
County Niagara
Area Fort Erie
Zoning R1
Direction At corner of Daytona and Evelyn St. in Crescent Park
Rooms
Kitchen 0
Interior
Fireplace No
Exterior
Utilities Available At Lot Line-Gas, At Lot Line-Hydro, At Lot Line-Municipal Water, Cable Available, Electricity Available, Natural Gas Available
Waterfront No
Garage No
Building
Lot Description Urban, None
Faces At corner of Daytona and Evelyn St. in Crescent Park
Sewer Sewer (Municipal)
Water Municipal
New Construction No
Others
Senior Community No
Tax ID 644690243
Ownership Freehold/None
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