Description

362 Lawrence Avenue West represents an opportunity to acquire a ready-to-go missing middle redevelopment project in the heart of Ledbury Park fronting on Lawrence Avenue West. The project is compatible with CMHCs MLI Select program, offering low-cost financing over 40-50 years, making this an extremely attractive opportunity from a capital efficiency standpoint. The approved plan is for a 6-storey, purpose-built rental building with 10 residential units, comprising a mix of two and three bedroom suites. The design contemplates approximately 11,500 SF of GFA. Importantly, the Property is one of the few developments in the city that has been approved to build as-of-right, according to the Major Street Study. Accordingly, the Property benefits from approvals in-place and the ability to begin construction immediately. The Property is currently occupied by a detached single-family home and is located between Lawrence Station and Lawrence West Station, with nearby bus stops offering access to both. It also benefits from close proximity to major amenities, including Yorkdale Shopping Centre, the Lawrence Allen Centre, and a variety of retail stores, services, and dining options along Lawrence Avenue. The Property's excellent location supports its ability to command premium rental rates, as demonstrated by nearby rental and condominium developments.

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