261-267 Bristol St, Guelph, Ontario N1H 3M5

Located in a thriving and growing area of Guelph, this property offers an exceptional opportunity for developers seeking to capitalize on high-density residential growth. Currently designated for High Density Residential use, this site presents various redevelopment opportunities: 1) With the current land use designation, this site allows for the construction of an apartment building ranging from 3 to 10 storeys. A 7-storey building with 89 suites would align with the City’s zoning policies and regulations. However, a proposal for a 10-storey building with up to 105 suites may also be considered, subject to approvals. It is important to note that any apartment development would require relocating the existing trunk sewer easement off-site prior to approval; 2) Developers can also consider downzoning the property to construct a combination of townhomes and stacked townhomes, totaling 22 units; 3) Alternatively, developers could downzone the property to accommodate 29 stacked townhomes. This property offers a fantastic opportunity for developers to transform an underutilized site into a vibrant residential development in line with the City of Guelph’s push for intensification. With an asking price of $2,320,000 based on the 29-unit stacked townhouse concept, this represents $80,000 per unit.