$29,499,000
Available - For Sale
Listing ID: C12554262
464-468 Winona Drive , Toronto, M6C 3T7, Toronto
| An exceptionally rare opportunity to acquire a premier development site in the heart of Midtown Toronto between Humewood and Cedarvale neighborhoods -one of the city's strongest and most resilient rental markets. The listing price includes Site Plan Approval (SPA) for the proposed 200-unit, 11-story rental development. PAC meetings' feedback and prepared Application Package suggest a short approval period. All seller's obligations related to SPA delivery will be detailed in the Agreement of Purchase and Sale. Offers may be made conditional on these final approvals, giving developers valuable certainty as the project moves toward completion of the planning process. Two independent appraisals have valued the land at about $25 million without approvals, reflecting its true highest and best use as a large-scale rental development. The proposed building aligns perfectly with CMHC's MLI Select program. The completed asset is expected to exceed $100 million in value with projected annual rental income of more than $5,500,000.Situated in a prime Midtown location surrounded by established high-demand rental buildings, the site benefits from strong municipal support for rental intensification as Toronto prioritizes new rental supply. The previously approved townhouse plan is no longer the highest and best use of the land, which is now optimized for a transformative multi-residential project. With near-zero vacancy in the area and robust demand for high-quality rental housing, this is a rare chance for forward-thinking developers to deliver a flagship rental asset in one of Toronto's most coveted neighbourhoods. |
| Price | $29,499,000 |
| Taxes: | $16500.00 |
| Occupancy: | Vacant |
| Address: | 464-468 Winona Drive , Toronto, M6C 3T7, Toronto |
| Acreage: | Not Appl |
| Directions/Cross Streets: | St. Clair and Winona |
| Bedrooms: | 0 |
| Bedrooms +: | 0 |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 0 | |
| Washroom Type 2 | 0 | |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 | |
| Washroom Type 6 | 0 | |
| Washroom Type 7 | 0 | |
| Washroom Type 8 | 0 | |
| Washroom Type 9 | 0 | |
| Washroom Type 10 | 0 | |
| Washroom Type 11 | 0 | |
| Washroom Type 12 | 0 | |
| Washroom Type 13 | 0 | |
| Washroom Type 14 | 0 | |
| Washroom Type 15 | 0 |
| Total Area: | 0.00 |
| Property Type: | Vacant Land |
| Drive Parking Spaces: | 0 |
| Property Features: | Park, Public Transit |
| CAC Included: | N |
| Water Included: | N |
| Cabel TV Included: | N |
| Common Elements Included: | N |
| Heat Included: | N |
| Parking Included: | N |
| Condo Tax Included: | N |
| Building Insurance Included: | N |
| Fireplace/Stove: | N |
| Central Vac: | N |
| Laundry Level: | Syste |
| Ensuite Laundry: | F |
| Sewers: | Sewer |
| Utilities-Cable: | A |
| Utilities-Hydro: | A |
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| Although the information displayed is believed to be accurate, no warranties or representations are made of any kind. |
| FOREST HILL REAL ESTATE INC. |
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416-548-7854
Bus:
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Fax:
416-981-7184
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At a Glance:
| Type: | Freehold - Vacant Land |
| Area: | Toronto |
| Municipality: | Toronto C03 |
| Neighbourhood: | Oakwood Village |
| Tax: | $16,500 |
| Fireplace: | N |
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