Co-op commission: 1%
Sale type: For investors
Ready for draft plan approval
- Single Family Residence
*Image for illustration only This property consists of 11 townhouse units with 1 heritage home all of which will form a common element condominium. To ensure the efficient use of the lands, the heritage home, which is currently located in the center of the lot, will need to be relocated to accommodate the development. The relocation of the heritage home has been approved by the City and will be a condition of Site Plan Approval. the owners have completed a Conservation Plan which outlines the requirements for the relocation of the heritage home, it is anticipated that this Conservation Plan will inform conditions required within the final Site Plan Agreement. The Conservation Plan recommends that the heritage home be moved once the new foundation is completed and is therefore to be done with the development of the property as a whole. The relocation of the home is the responsibility of the Owner of the lands at the time of servicing. They are currently working through the final registration of the Draft Plan of Subdivision. This is required to move forward to Site Plan Approval. The final MPlan for the Plan of Subdivision has been created and circulated to the approval agencies. They are currently waiting on a scoped Subdivision Agreement for registration. All aspects of the Site Plan are currently completed and we anticipate moving to full Site Plan approval very quickly upon final registration. There is a cost-sharing agreement (CSA) with the neighbouring property owner and the servicing works have already started for them. The cost-sharing agreement covers the main shared entrance road and the services within the same. The adjacent land owner has commenced servicing works on his lands which includes the entrance roadway. The agreement, in a nutshell, is that once they register their plan of subdivision (in process as indicated above), the new owner will need to pay approx. $180k to cover the costs paid by the adjacent land owner.
Location & nearby
This listing is located in Vaughan, ON
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