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About This Property

Prime Infill Development Opportunity - J & J Developments presents Peterborough's Desirable old West End! Exceptional residential development opportunity offering immediate building potential, flexible development configurations and significant long-term density upside. Located in Peterborough's established Old West End, this strategically positioned property features an approved 5FIVE-LOT severances, comprising 2 TWO-LOTS fronting Monaghan Road and 3 THREE-LOTS fronting Homewood Avenue. The 5 FIVE residential parcels offer as-of-right development potential for 20 residential units, consisting of 4 FOUR units per lot. Builders and investors can capitalize on Peterborough's strong rental demand and attractive market rental rates by developing income-producing rental units, or create 20 individually owned condominium units for resale, subject to condominium approvals. This flexibility offers multiple investment and exit strategies, including phased construction, long-term rental income or individual condominium sales. For larger-scale developers, the combined site offers conceptual redevelopment potential for approximately 40 town homes or a mid-rise residential complex of up to 116 units, subject to municipal planning approvals. Feasibility studies have already been completed! ATTRACTIVE VENDOR FINANCING AVAILABLE! A 0% interest Vendor Take-Back (VTB) mortgage is available for a term of up to six months, subject to mutually agreeable terms and conditions. An outstanding opportunity for builders, developers and investors to capitalize on a versatile, multi-lot residential development with substantial density potential, multiple revenue strategies and attractive short-term financing. (id:63604)