983 & 991-995 KING ST. E. & 512-516, 520 CHARLES ST. E. Street
$4,999,999
983 & 991-995 KING ST. E. & 512-516, 520 CHARLES ST. E. Street
Downtown/Rockway/S. Ward, Kitchener · MLS® 40865108
1 sq ft lot · Land · Vacant Land · 33 days on market
listed by LEE QUAILE, Chestnut Park Realty Southwestern Ontario Limited
realtor's description
This assembly of five properties in a rapidly expanding area of Kitchener offers a rare opportunity for high-density residential development, spanning 0.64 acres of MU-3 zoned land. The site is strategically located between two similar developments and bordered to the west by the Light Rail Transit (LRT) system on Charles St. E. Pre-consultations with city planners and regional precedents indicate the potential for increased density through higher Floor Area Ratio (FAR) and Gross Floor Area (GFA) allowances. With frontage on King, Borden, and Charles streets, the property offers exceptional access. Preliminary site plan modeling suggests approval for approximately 304 units in a single tower configuration. The accompanying photos highlight the property’s boundaries and the potential high-rise development.
property details
- type
- Land, Vacant Land
- lot
- 1 sq ft
- parking
- 0
- property tax
- $15,075 / yr
- days on market
- 33
- MLS®
- 40865108
monthly cost
$23,041/mo
Mortgage $21,785 · Tax $1,256
20% down at 4.34% fixed (Ratehub.ca), 25 years; tax from the listing.