369 - 391 Front Street, Belleville, ON

Introducing an exceptional prime development opportunity located at 369-371-373-375-377-381-385-391 Front St in Belleville, Ontario, one of the fastest-growing cities in Canada. This property consists of two parcels of land (PINS 404750033 and 404750034) and is strategically situated in the heart of Belleville's city center. The area is experiencing significant growth, making it an ideal location for investors looking to capitalize on the expanding real estate market. The city’s prime position along the Highway 401 corridor, coupled with its growing population, thriving economy, and ongoing infrastructure improvements, positions this site as a key hub in Eastern Ontario.
A development application is underway for a 19-story mixed-use building, including 1 story of commercial space, 4 stories of parking, and 14 stories of residential units. Zoned for high density with a Gross Floor Area (GFA) of 164,828 sq. ft., the development will include up to 166 bedrooms and allow for a mix of uses, such as multi-dwelling residential, hotels, retail, restaurants, and professional offices. The project is also eligible for the Affordable Housing Fund Program through CMHC, offering significant financial support and incentives for developers committed to creating affordable housing solutions.
Currently, the property is 100% occupied, generating strong income, and has been appraised at over $5 million by a reputable appraisal firm. This is a rare and lucrative opportunity to invest in a growing area with immense future potential.