Descripation

Exceptional opportunity to acquire a development-ready 10-unit purpose-built rental project at 172-178 William St S, Chatham. Offered at $420,000 with an independent as-constructed appraisal of $3.27M. Zoning approved under site-specific RM1-1784 (By-law 41-2026) for a proposed 3-storey, 8,456 SF building on a 0.26-acre corner site with 12 parking stalls. Unit mix: 6 x 3-bed/2-bath, 1 x 2-bed/2-bath, 2 x 2-bed/1-bath & 1 affordable bachelor. Suites feature in-suite laundry, balcony/patio & separate metering. Designed to target 100 points under CMHC MLI Select through affordability & energy efficiency. Extensive pre-development work complete/substantially advanced including architectural, structural, mechanical, plumbing, civil servicing, energy modelling, geotechnical & Phase I ESA. Zoning is in place with drawings advanced toward building permit. Full appraisal, drawings, reports & due diligence package available to qualified purchaser.