Description

460 Cumberland Avenue is an ideally located, +/- 0.89-acre corner parcel slated for imminent development, benefiting from its existing approvals and strong residential demand in the area. Whether for seniors housing, condominium or purpose built rental, the site offers outstanding redevelopment potential for a range of builders, operators and investors. The site received Official Plan and Zoning By-law Amendment approvals in October 2023 and conditional Site Plan approval in November 2024, to permit the development of a 7-storey seniors housing facility with a total GFA of approximately 118,000 sq. ft. There is opportunity to move the project forward as proposed, or pivot the project toward either condominium or purpose built rental through a modified SPA application if desired. Zoned Residential High Density 1 (RH1), additional permitted uses include stacked, back-to-back and street townhouses. The City of Burlington continues to garner interest from the GTA's most prominent high-rise developers as a result of its user-oriented buyer profile - which has reduced pricing volatility relative to competing markets. Additionally, with a private apartment vacancy rate of 1.8%2 and an average rental rate of $3.42 per sq. ft.3 (based on 133 completed leases in Q3 2025), the City of Burlington's rental market remains buoyant and well-positioned for new supply. Situated in the heart of Burlington, the site is easily accessible to the downtown core, Burlington Centre mall and other amenities, services and recreational facilities. The offer submission date is Wednesday, January 28thby 3pm (EST)

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