Site Plan Approved Development In Waterloo Location Cmhc Mli Select

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For Sale: Land in Waterloo, ON

Maziar Moini

Realtor

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Listing Details

Description

1. Strategic Site & Approved Plan This 0.561-acre site in the heart of Waterloo is fully Site Plan Approved for a 6-storey, 73-unit rental apartment. Zoned RMU-20 (Residential Mixed-Use) under the city’s Official Plan, it allows a Gross Floor Area of ~75,000 sq.ft. The design includes 1.5 levels of underground parking (86 residential stalls) — ideal for tenants in a growing urban hub. 2. Investment Snapshot 💰 Price: Call for more info 💸 Current Income: $129K Gross / $111K NOI 🏗️ Eligible for CMHC’s MLI Select Program, enabling high-leverage, long-amortization financing for energy-efficient, affordable rental housing. This property combines development-readiness, existing income, and CMHC incentives — a rare low-risk, high-upside opportunity. 3. Market & Affordability Context 📊 As of Feb 2025: – Median rent: $2,125/mo (+12% vs national avg) – Average rent: $2.71/sq.ft – Avg salary: $60,250 | Avg household income: $122,400 – Rent affordability threshold: ~$85K household income This makes Waterloo highly suitable for MLI Select’s affordability benchmarks, while also being primed for long-term rental growth due to a strong university-led economy. 4. Surrounding Demand Drivers 📈 Nearby pre-construction condos are trading at $950–1,350/sq.ft, including: – TEK Tower – $1,350/sq.ft – DUO at Station Park – $1,100/sq.ft – Strata & Q Condos – Avg. ~$980/sq.ft 🚆 Transit Access: – 9 min to Kitchener GO Station – 27 min to KW Airport – Proximity to University of Waterloo & Wilfrid Laurier University 📩 Contact us to sign the CA and access the full data room. This is your chance to secure a shovel-ready, income-generating, CMHC-eligible rental project in one of Ontario’s most promising growth corridors.

Location & nearby

This listing is located in Waterloo, ON N2L 1W6

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