164 King St
St. Catharines, L2R 3J4
FOR SALE
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Property Description
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.
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Property Details
Street
City
Property Type
Vacant Land
Approximate Sq.Ft.
< 700
Lot Size
67' x 130'
Acreage
< .50
Fronting
South
Taxes
$12,000 (2023)
Heat Type
None
Air Conditioning
None
Water
Municipal
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Listing contracted with Re/Max Escarpment Realty Inc.,
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