523 537 Thorold Road, Welland

An exciting apartment project backing onto Welland’s Maple Park. This 3.05 acre parcel has been Rezoned high-density with a total of 228 condo units along with a minimum of 242 parking spaces (more are possible if developer chooses). Conveniently located just east of South Pelham where two traffic arteries connect, the site provides access to shopping, grocery, medical facilities, and public transit. The project is designed for two large, mirrored 8 storey condo apartments connected to Maple Park at the south of the parcel and two smaller 4 storey mid-rise apartments fronting onto Thorold Rd. The site elevations and geotechnical studies were conducive to an underground parking system allowing developer to maximize greenspace, common corridors and allow for phasing. Perfect as a condo build out or a purpose built rental to allow for 100% recovery of HST. This project is very attractive with lots of opportunity. Plans are submitted for site plan review. Ideal situation would be for a prospective developer / buyer to finalize the site plan to their satisfaction and negotiations for offsets for parkland dedication with the City. All reports, studies, notices, and applications are available for full review by potential developer/buyer. Various purchase options to consider, including partial VTB, share purchase and creative opt-ins with a qualified offer/buyer. (id:1945)