- What A 12-acre development site near Halifax is on the block for $10.5m
- Why The vacant site can accommodate 250 residential units
- What next CBRE has the assignment
A 12-acre development site in Dartmouth, N.S., is on the block with an asking price of $10.5m.
The site, owned by AJ LeGrow Holdings, has development potential for up to 250 residential units. CBRE has the assignment.
Preliminary plans for the site propose three buildings, having four, six and eight storeys. The buildings would have 69, 56 and 125 units, respectively, and collectively span more than 43,000 sq ft.
The development is planned for the south side of the property as the east side is a wetlands reserve. The proposal includes an 18,000 sq ft municipal park and a walking trail along the wetlands.
The site is immediately adjacent to 101 Research Drive, where a seven-building, midrise residential development has been proposed. AJ LeGrow Holdings and the owner of 101 Research Drive have jointly begun the development agreement process and are preparing a submission package to send to the city.
Dartmouth is becoming a hot spot for multifamily development, with strong demand in the rental market, marketing materials said.
The site is 2 km from downtown Dartmouth, 3 km from downtown Halifax and less than 1 km from Highways 207 and 111.
