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89 RICHMOND ROAD Ottawa

89 RICHMOND ROAD, Ottawa, Ontario

$2,499,999

Fully entitled mid-rise development opportunity in one of Ottawa's most sought-after and supply-constrained corridors. This permit-ready project offers a rare combination of scale, location, and reduced approval risk, ideally suited for experienced developers seeking a high-quality urban infill site.Approved (site plan registered, all studies and engineering plans completed and approved) for a 6-storey (approx. 20m) mixed-use building comprising 19 residential units and approximately 3,000 sq. ft. of commercial space over two levels, with a total gross floor area of ~20,000 sq. ft. Situated on a 40' x 100' lot, the property benefits from a secured minor variance eliminating parking requirements, maximizing efficiency and buildable area.Positioned in the vibrant Wellington/Richmond/Island Park node, the site is surrounded by premium developments, strong demographics, and established retail amenities, supporting long-term rental and investment performance.The project has been designed and with key parameters aligned to CMHC MLI Select program requirements, including residential/commercial allocation thresholds and energy efficiency considerations. Successful qualification under CMHC's MLI Select program can provide access to highly favourable financing terms, including up to 95% loan-to-cost and amortizations of up to 50 years.All information provided is believed to be accurate but must be independently verified by the Buyer. Offering is made on an "as-is, where-is" basis. Seller makes no representations or warranties regarding development potential, approvals, financing, or projected performance. Buyers are responsible for conducting their own due diligence with respect to zoning, permits, costs, and feasibility.A rare opportunity to acquire a near shovel-ready asset in a premier urban location with significant upside potential. (id:25961)

  • Listing ID: X13075310
  • Property Type: Vacant Land

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Details

  • Transaction: For sale

Building

  • Fireplace Present: False

Land

  • Size Frontage: 40 ft
  • Size Irregular: 40 x 100 FT
MLS®

Listing provided by RE/MAX HALLMARK REALTY GROUP
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This REALTOR.ca listing content is owned and licensed by REALTOR® members of the Canadian Real Estate Association. This property for sale is located at 89 RICHMOND ROAD in Ottawa Ontario. It was last modified on May 3rd, 2026. Contact Caroline Johnson to schedule a viewing or to discover other Ottawa properties for sale.

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