49* Collier Street, Barrie, ON

Description

*Sale includes 47, 49, 51, 53, Collier St & 9, 23 Owen St. The Site is well-positioned at an intersection with multiple street frontages including Collier Street to the north, and Owen Street to the west, and a city-owned public lane-way to the south. The Property is located within the City of Barrie's popular downtown area just north of Dunlop Street East and just steps to Barrie's waterfront, Memorial Square and Heritage Park. The Site currently has a proposed Site Plan Application in its second submission for the development of a 34-storeymixed-use building, consisting of + 263,188 sq. ft. total proposed GFA, including + 8,542 sq. ft. of commercial at-grade. This development proposes 314 residential units. A Zoning By-Law Amendment was approved in September 2023 to rezone 49 Collier from Central Area Commercial-2 to Central Area Commercial-2 with Special Provisions' which facilitates the development of this mixed use building, therefore demonstrating the City of Barrie's support of development of this Site. The Site has previously received Site Plan Approval for the development of a 16-Storey Senior's Retirement Living Facility, giving this Site optionality for either development concept. There is further flexibility for the Prospective Purchaser to modify the development concept based on their requirements, scale back the proposed density, and/or to support rental conversion as desired. Overall, this Site provides an excellent opportunity to acquire a well-configured, well-located development Site with flexible built-out optionality, extensive background planning work and due diligence reports already completed.