395 Elm Street Port Colborne, Ontario L3K 4P3

$2,500,000

CMHC-Qualified 78-Unit Development Fully Site Plan Approved! An exceptional opportunity in Port Colborne, a city on the rise within the Niagara Region and a hub for tourism, industry, and residential growth. In 2025 alone, over 70 cruise ship visits are expected, bringing continued economic vitality and demand for housing. This 1.14-acre site is fully approved for a 6-storey, 78-unit apartment building totalling approx. 76,000 sq.ft. of GFA, with 86 parking spaces and an efficient mix of 1- and 2-bedroom layouts. Several municipal and regional grants may be available (depends on final project details), enhancing project feasibility. The site is strategically located just minutes to downtown, the hospital, schools, grocery, beach, and quick access to highways, Niagara Falls, the GTA, and the U.S. border. Supported by projected population growth of nearly 25% by 2031 and the upcoming $1B South Niagara Hospital (completion targeted 2028), Port Colborne offers long-term fundamentals and strong rental demand. This development qualifies for favourable CMHC financing programs, allowing investors to maximize leverage and stabilize returns. Asking approx. $32,051 per door is a rare, ready-to-go project, combining approvals, incentives, location, and growth potential in one package. (id:35544)

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