61-63 King Street W, Hamilton - $3,980,000 | Modern Solution

61-63 King Street W

61-63 King Street W, Hamilton

61-63 King Street W in Hamilton - 0 bedroom, 0 bathroom. Listed at $3,980,000.

Rare real estate opportunity, ready-to-build development in the best part of Stoney Creek, ideally located beside an award-winning recreation centre and Battlefield House Museum & Park. Proposed 8-storey mid-rise with approx. 66,500 sq. ft. of buildable area. CMHC package ready for purpose-built rental with $2,200,000 Potential Gross Income, or option to build as condominiums or retirement living complex. 75 residential units + 3 ground-floor retail/commercial units: 6 Studio, 6 One Bedroom, 26 One Bedroom + Den, 32 Two Bedroom, and 5 Three Bedroom units. Includes 2 levels of underground parking (51 parking spaces), 64 bicycle storage spaces, 27 lockers, and 2 elevators. Approvals & reports in place: Site Plan Approval (SPA), Committee of Adjustment final & binding decision, encroachment agreement, private waste collection agreement, energy modelling, Sustainable Building Canada study, and full commercial appraisal (reproduction cost new, income approach, and direct comparison approach). Development incentives: over TWO Million Dollar in savings via 50% Ontario reduction on development charges, also NO HST on construction costs for purpose-built rental buildings. Eligible for select programs offered by the City of Hamilton. Transit & connectivity: Bus stop at property with direct access to Hamilton's 7 main hospitals, McMaster University and other colleges, quick connection to Toronto via GO Transit, minutes to QEW GO Station, and approx. 4-minute drive to future Hamilton LRT. Features a rooftop garden and interior amenity space with clear mountain views. Retails with 14' clear height and Residential ceiling heights: 9' (2nd-5th floors), 10' (6th floor), and 11' penthouse level. Excellent opportunity for developers and investors in a high-demand, transit-connected community with pool, ice-rink and other amenities next door! Vendor Take-Back (VTB) mortgage available to qualified purchasers at the Seller's sole discretion.

Property Details

  • Property Type: Mortgage
  • Parking: 51 spaces
  • Property Taxes: $5,000/yr
  • Neighbourhood: Stoney Creek
  • Postal Code: L8G 1H7

View photos, details, and schedule a showing with Modern Solution Realty. 1% commission listing services available.