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Active
627 Princess ST Kingston, ON K7L 1E2
21,872 SqFt
UPDATED:
03/12/2025 02:22 PM
Key Details
Property Type Commercial
Sub Type Land
Listing Status Active
Purchase Type For Sale
Square Footage 21,872 sqft
Price per Sqft $89
Subdivision Central City East
MLS Listing ID X11979424
Annual Tax Amount $15,113
Tax Year 2024
Property Sub-Type Land
Property Description
APPROVED 45-UNIT RESIDENTIAL DEVELOPMENT IN DOWNTOWN KINGSTON: 627 Princess Street represents a rare and strategic infill development opportunity with secured municipal approvals for a 6-storey residential development. The approved project comprises 45 units (62 bedrooms) thoughtfully designed with an optimal mix of BACHELOR (8), 1-BEDROOM (16), 1-BEDROOM+ DEN (4), and 2-BEDROOM (17) units, complemented by 7 surface parking spaces including 2 barrier-free spaces and dedicated amenity areas. Strategically positioned within Kingston's designated intensification corridor, this prime development site offers exceptional visibility along this evolving stretch of Princess Street. The location provides immediate access to major demand drivers including Queen's University, Kingston Health Sciences Centre, Hotel Dieu Hospital, and numerous national retailers. Future residents will benefit from convenient proximity to multiple grocery stores, daily amenities, and the Memorial Centre a vibrant community hub hosting year-round events, festivals, and attractions. The existing municipal approvals deliver substantial value and timing advantages, significantly reducing the development timeline and associated costs. This represents one of the final remaining development opportunities along this premium corridor, offering an exceptional entry point into Kingston's robust rental market. Kingston's rental market fundamentals continue to demonstrate exceptional strength, characterized by vacancy rates consistently below provincial averages. This performance is underpinned by sustained demand from a growing student population, expanding healthcare sector employment, and chronic rental supply constraints. Qualified purchasers are invited to review the comprehensive due diligence package, available upon execution of a confidentiality agreement. Property must be purchased together as a package with 518 Albert Street
Location
Province ON
County Frontenac
Community Central City East
Area Frontenac
Zoning WM1
Exterior
Utilities Available Yes
Lot Frontage 65.62
Lot Depth 160.5
Listed by ROCKWELL COMMERCIAL REAL ESTATE, BROKERAGE