Colliers Macaulay Nicolls Inc. (“Colliers”) has been retained by Greenfield Real Estate Inc (“Vendor”) to act as its advisor and agent of 128-132 Gorman Park Rd & 795-799 Sheppard Ave W: an approved, 0.92-Acre development site in North York. The site benefits from significant development potential, highlighted by approvals granted by the Local Planning Appeal Tribunal (“LPAT”), allowing for 160,866 SF of density and a 9-storey midrise condominium. Located on the south side of Sheppard Ave W and within 3 blocks of Sheppard West subway station, this transit-oriented site represents an opportunity for a builder to acquire pre-zoned land in the highly gentrifying node of North York. The immediate neighbourhood continues to experience incredible residential demand as well as development applications, which is highlighted by the rapid absorption of new units hitting the market. With Toronto experiencing a significant lack of supply and increasing demand through immigration and household income growth, builders will be able to capitalize on these factors while owning land in one of the fastest growing submarkets in the GTA. With the Vendor achieving significant density approvals with the city, Purchasers will benefit from limited development risk while still capitalizing on these favourable market conditions.
Détails de la transaction
- 795 Sheppard Avenue West