C$1,775,000

Back on Market -- Opportunity for a new vision! 570 Laclie Street is located in north Orillia at the intersection of Laclie Street, Hughes Road and Ferguson Road. The 1.287 AC triangular parcel has approximately 600' of frontage on the east side of Laclie Street. Property borders Ferguson Road at the rear of the parcel which appears to be an unassumed road / opened allowance that intersects with Hughes & Sundial Drive at the north and south boundaries. Property can be serviced as municipal water and sanitary lines / storm sewers, as well as natural gas, electricity, high speed interest and telephone, are located on all surroundings streets. This parcel is located just 750m west of the shores of Lake Couchiching and 750m south of closest Highway 11 interchange. In 2021, the City of Orillia approved a rezoning from C4(i)H2 to R5-13i(H2) to allow for a 7-storey building with 70 dwelling units. While the site has been rezoned for a 70 unit, 7 storey building, the current rendering and site plan indicates ground floor parking with five floors of residential for a total of 6 storeys. consisting of 70 residential condo units and 91 parking spaces. Unit mix: 52 One-Bedroom Suites, 8 Two-Bedroom Suites and 10 Three-Bedroom Suites, with a 1.3 parking ratio. Total GFA = 91,446SF / Total NSA = 82,271 SF - Site coverage of 23.15%. Zoning By-Law Amendment 2021-37 allows for density of 133.89 units / hectares. Current Development charges for project estimated to be $1,295,588 based on current DC for residential - but subject to review following approval of Site Plan. To be re-assessed - estimated to be $11,000 for 2026.