Message Number402632
statusExpired
Subject LineHave Kitchener Development Lands for Sale, 9 acres $5.5M
Business area
Canada
Ontario
Southwestern Ontario
Kitchener
Location, CityKitchener
Have/WantHave
Business categoryAnnouncements, News (NOT Haves/Wants)
Date of ListingNovember 18 2021
Type DescriptionCommercial Redevelopment Land
LocationKitchener Ontario
Price$5,500,000.00
Site area9 acres
ZoningUrban Commercial
Comments9.45 acre commercial site fronting on Hwy 8 at 270 Hidden Valley Road in Kitchener Ontario(approx. as there is no current address). A survey is being produced.

The site is currently in a hold pattern with zoning being converted from a B1 industrial zoning to an Urban Commercial zoning.

Please see the following link to the newly approved Land Use Master Plan - https://www.kitchener.ca/en/strategic-plans-and-projects/hidden-valley.aspx

Pros of the site are:
The site faces Hwy 8 (gateway to the city) with a large frontage for signage.
The site is easily seen off of Fairway Road.
The Hydro lands directly to the north of the site/Fairway Rd. can be bought for $600/acre (Agreed in past documentation) allowing: Greater parking similar to Fairview Park Mall under the hydro wires or storage of nursery materials
A spot to incorporate egress from the property (Currently the site has an ingress point onto the site)

The area is currently in a holding pattern with a rezone to Urban commercial (see master plan) at which point the site will become more valuable.

The 3 acres (treed area) will probably be expropriated by the city for construction of an on ram to Hwy 8 (E/W-S) giving greater visibility to the site.
The expropriation rate should be in relation to industrial land rates that have skyrocketed to approx. $1M/acre.

The new River Road Extension (proposed) will cross over Hwy 8 will flow in front of the site giving greater visibility (see attached River Rd?)
ION Light Rail will be flow in front of the site again allowing greater visibility

Cadillac Fairview is currently investing in the expansion of Fairview Park Mall (across the street) with the following phases:
1. $74M (first phase) in their new Grand Market District development, improving the area with new office and retail space.
2. $360M (second phase) could include two more office buildings and up to four residential towers.

Following is information on the timeline for road development in and around the site.
270 Hidden Valley Rd is undergoing a zone change from B1 to Urban Corridor Commercial by way of the new master plan approved June 24, 2019 and is now in a holding pattern until development of the following projects is close to fruition:
1. Wabanaki to Manitou Road Development (construction underway)
Wabanaki Drive
2. King to Wabanaki (River Road Extension) ? approx. timeframe 2024 to 2027
The proposed ION light rail line 2nd phase ( running in front of the property) has been approved with environmental assessment.
Internet Linkshttps://www.kitchener.ca/en/strategic-plans-and-projects/hidden-valley.aspx
Member Identifier2820
ControlMLS
NameScott Anderson
TitleSenior Vice President / Broker
Company NameCushman & Wakefield Waterloo Region
Address Line One4295 King Street East, Suite 401
CityCambridge
State/ProvinceOntario
Zip/Postal CodeN2P 0C6
CountryCanada
Business Phone Number(519)585-2200
Cell Number(519)240-3008
Home Number(519)240-3008
FAX Number(519) 650-5250
Email AddressSend Email
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