164 King St, St Catharines
164 King St, St Catharines
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14 Photos
- MLS®: x8280098
- Type: Lots and Land
- Added: 16 days ago
Property Details
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. (id:1945)
Property Information
- List AOR: Toronto
- Utilities: Sewer, Natural Gas, Electricity, Cable
- Photos Count: 14
- Tax Annual Amount: 12000
- Lot Size Dimensions: 67 x 130 FT
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