60 Yonge Street S Huntsville, Ontario P1H 1T6

$849,900

Exceptional 1.32-acre, building permit application-ready purpose-built rental development opportunity in Huntsville, Muskoka, with plans for two identical 8-unit buildings (16 units total), thoughtfully designed to accommodate a range of tenant demographics, with features particularly well suited to seniors, families, and workforce housing.The project is positioned in a high-demand rental market with access to municipal water and sewer and public transit, addressing a significant shortage of one-bedroom rental accommodation. Huntsville has historically experienced extremely low vacancy, with current vacancy estimated at approximately 1%, while local affordable housing demand remains substantial. The buildings feature innovative post-and-beam construction with Structural Insulated Panels (SIPs), providing highly efficient, durable and attractive buildings. Wall assemblies exceed R-50, while radiant in-floor heating within polished concrete floors is designed to significantly reduce heating requirements compared with conventional stick-frame construction. Four units are designed for accessibility. The project may also qualify for District of Muskoka affordable housing programs, including head-lease arrangements, per-unit grant funding of up to $100,000 subject to program requirements, and potential development charge waivers where applicable. Building permit application-ready, the project represents a significant opportunity to bypass years of planning and administrative work and move directly toward construction.The development is also positioned for potential CMHC MLI Select financing, subject to applicable program requirements, offering the potential for attractive financing terms and extended amortization. A rare, substantially de-risked development opportunity for investors, builders and purpose-built rental housing developers seeking exposure to the Huntsville/Muskoka market. (id:49269)

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https://www.realtor.ca/real-estate/30290493/60-yonge-street-s-huntsville-huntsville