Re/max Premier Inc., Brokerage
9100 Jane St
Concord, ON
L4K 0A4
Hamilton, Binbrook Municipal, L0R 1C0
$1,390,000
Listed by AVISON YOUNG COMMERCIAL REAL ESTATE SERVICES, LP.
EXISTNG: "District Commercial" zoning and secondary plan designation permitting retail, personal service, financial establishment, offices, restaurants, medical clinics, studios, places of assembly, and motor vehicle related uses (including gas). Residential uses permitted above commercial uses provided less than 50% of the total gross floor area of a building (max height 3-storey) UPSIDE POTENTIAL: To accommodate Hamilton’s forecasted growth over the next 30 years, a significant amount of intensification will need to occur across the built-up area. Part of the City's plan is 'Up Zoning’ of Urban Corridors and major and minor arterial roads to the ‘missing middle’ which is considered 12 storeys or less. The on-going Residential Zones Project, is currently at Phase 2 which has introduced two new Mid Rise Residential Zones (R3 and R3a), allowing denser uses on arterial roads. The next step is to apply the R3 and R3a Zones to properties along arterial roads. This could occur as early as November 2024. Subject property is on a major arterial road, adjacent to retail amenities, and residential only on 1-side, is an ideal candidate for 'Up Zoning’. In fact, current ownership has begun the process of exploring increased density and is expecting formal consultation comments back any day now for a proposed 9-storey, 96 unit, mixed use building.
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