164 King Street For Sale

St. Catharines, L2R 3J4

$1

Description

Listed by RE/MAX ESCARPMENT REALTY INC..

Prime opportunity in Downtown St. Catharines! Situated in the vibrant heart of the city, just north of the Highway 406 / Geneva Street interchange, this property offers immense potential for high-density residential development, with a capacity for 100 to 200 units. Moreover, recent governmental initiatives have significantly enhanced the feasibility of development. The lifting of GST self-assessment for purpose-built rental projects by the federal government, coupled with the anticipated full HST rebate from the provincial government, promises substantial cost reductions of up to 10%. Additionally, St. Catharines' 2015 Community Improvement Plan offers a range of subsidies and incentives, including the Tax Increment Financing Program ("TIF"), which provides rebates on realty tax assessment increases over a decade post-development, further enhancing the project's economic viability. Nestled amidst a mix of heritage structures and contemporary developments, the site presents an attractive infill opportunity adjacent to the Niagara Transit Commission terminal. The surrounding area boasts a plethora of local retail shops, restaurants, cafes, and personal service amenities, ensuring convenience and a thriving community ambiance.

Location

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  • Address: 164 King Street
  • Neighborhood:
  • City: St. Catharines
  • State: Ontario
  • Postal Code: L2R 3J4

Property Details

  • Property ID: X8280098
  • Property Price: $1
  • Style: Vacant Land
  • Sq/Ft: < 700
  • Taxes: $12,000.00 (2023)
  • Acreage: < .50 Acres
  • Lot: 130.00x67.00 (Feet)

Contact Manoj Kukreja

Sales Representative, Re/max Premier Inc., Brokerage
(647) 370 - 0992