Land - 30 Floor High Rise Downtown Barrie - For Sale
The Canada Realty is thrilled to introduce a lucrative development opportunity Downtown Barrie, a prime property located in the heart of Barrie. This site offers substantial potential for a high-rise residential and commercial development, backed by municipal support and government incentives, making it an ideal project for developers looking to maximize returns in a fast-growing area.
Property Highlights:
- Dimensions: 233 ft x 140 ft
- Area: 29,888 sq ft
- Current Zoning: Commercial (City favors high-rise residential/mixed-use developments)
- Land Price: $5.5 million
Development Potential & Financial Upside:
This site supports a 30-story mixed-use tower with 300 residential units and 2 floors dedicated to commercial spaces, providing an exceptional opportunity to create a landmark development in Barrie. The project promises significant cash flow, with anticipated revenues reaching $600,000 monthly once fully rented.
- Residential Potential: Up to 300 units, with high demand in Barrie’s rental market for quality urban housing.
- Commercial Space: Two floors available for commercial tenants, ideal for retail, office, or service providers catering to residents and the surrounding community.
- Financial Backing: Supported by the Canada Mortgage and Housing Corporation (CMHC), this project also qualifies for government sponsorship, making financing accessible and reducing upfront capital requirements.
Key Advantages:
- Strong Municipal Support: The City of Barrie is actively encouraging development in this zone and will streamline approvals for high-rise projects, particularly those that add residential housing to the downtown core.
- Government Incentives: Through CMHC and additional government programs, there is substantial backing for rental developments, ensuring lower financing costs and reduced risk for investors.
- Prime Downtown Location: Situated in an area with robust commercial and residential demand, this location is surrounded by similarly permitted high-rise buildings, setting the stage for a well-integrated addition to Barrie’s skyline.
- High ROI Potential: With competitive rental rates in downtown Barrie, projected cash flow from a completed rental project would bring in approximately $600,000 per month.
Project Summary:
This opportunity is perfect for investors seeking to develop a profitable, high-rise property in a high-demand market. Whether you are interested in creating a luxury condominium complex or a rental tower to meet Barrie’s housing demands, this project provides the location, support, and financial incentives necessary to achieve a high return on investment.