930 Albion Rd Lot | Terrain commercial | 0,16 ha | À vendre | 3 507 779 € | Toronto, ON M9V 1A7

This property is zoned for mid-rise residential development and is currently vacant land, offering a prime opportunity for a rental apartment project. It is ideally located across from Shoppers Drug Mart, Grow Fitness, and Mr. Lube, providing excellent exposure and convenience. An application has already been submitted for a 7-storey, 65-unit apartment building totaling 56,000 square feet, which includes a number of affordable housing units. These affordable units are exempt from property taxes and development charges. There is also potential to assemble the site with an adjacent parcel listed at $2.9 million, further enhancing the development scope. A government grant of $1.2 million has already been approved and can be applied toward construction costs. Additionally, the project may qualify for up to 95% financing through the CMHC MLI Select program, which offers some of the most favorable terms available, including 45–50 year amortization and the lowest interest rates on the market.