7 Pine Street, Sudbury, Ontario P3C4W4

Property Description

(CMHC MLI Select compatible for 50 year mortgage at 95% LTV) Vacant development lot with approved plans for 18,000+ sf, 17 unit low rise in downtown Sudbury across the street from the McEwin School of Architecture and only a few blocks away from the Downtown Events Center set to open in 2028. This location is perfect for a buyer looking to complete construction of an urgently needed multifamily asset in downtown Sudbury. With the school of Architecture across the road and numerous young professionals downtown, the lease up will be very short. The drawings boast 11 - two bed, two bath, 900 SF units, with each bedroom having a WIC. 2 - two bed, one bath units and 4 - Jr 1 bedroom, apartments with 450 SF each. All units have 9' ceilings. There is a 600 SF private Roof top patio for tenants own use, common laundry room and a 900 SF cardio room in the plans. Minor variances have been approved for parking at .89 spaces per unit. This project will be the gem of downtown. (id:5764)