Pavinder Shokeen

464-468 Winona Dr, Toronto, M6C 3T7 , Ontario

Price:

$29,500,000.00

Status:

Land Designated

MLS#:

C9353710

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$29,500,000.00

Tax:

16500.00(2023)

Community:

Oakwood Village

City:

Toronto

21098.00 Sq Ft Total Area
Municipal Water
LandType
Office Area
Basement
Garage

Interior:

Fireplace

Exterior:

Brick

Heating:

Forced Air

Lot Features:

Public Transit, Ravine, River/Stream, Wooded/Treed

Listing Contracted with: SOLTANIAN REAL ESTATE INC.

Description:

The Location is ideal for the Proposed Development of a 200-unit, Eleven-story Rental Apartment Building, currently in the planning phase. This optimal utilization of the land is highly supported by Toronto's municipal policies that focus on increasing Rental Housing availability to address the current housing crisis in midtown Toronto.The land zoning originally included Rental Building and it is surrounded by Four high Demand Rental Complexes. Hence the previously approved townhouse project is no longer the Highest and Best Use of the land. The Land has been Appraised at $25,100,000 in 2023, mirroring its value with respect to the Proposed Development. According to the Appraisal Report, the completed building will generate over $5,500,000 Rental Income per year.

Highlights:

Land C9353710