431, 425, 423 2 Avenue NE

About this property

Exceptional opportunity to acquire a high-density development site strategically located just off Edmonton Trail at 423, 425 and 431 – 2 Avenue NE. Featuring 125 feet of frontage along 2 Avenue NE and street/laneway access on three sides, this prominent land assembly offers outstanding development flexibility. ZONED MU-1f5.0h26- the property permits a 5.0 FAR, offering approximately 75,000 sq. ft. of potential gross floor area and a maximum building height of 26 metres (approx eight storeys), subject to municipal approvals. Ideal for a substantial multi-residential or mixed-use development. Located in Crescent Heights at the gateway to Bridgeland, within the Bridgeland Business Improvement Area (BIA), the property is steps from vibrant restaurants, cafés, shops and Edmonton Trail, with excellent proximity to downtown Calgary, public transit, the Bridgeland/Memorial LRT station and Bow River pathways. Significant pre-development work has been completed, including DP drawings prepared by the previous owner for a proposed 79-unit, six-storey residential building featuring one- and two-bedroom suites. Phase I Environmental Site Assessment and geotechnical reports have also been completed. At 431 – 2 Avenue NE, asbestos abatement and house demolition are complete, while 423 and 425 – 2 Avenue NE remain leased, providing interim rental income during development planning. A rare opportunity to secure a high-density, development-ready investment site with substantial planning work completed, existing rental income and exceptional inner-city connectivity in one of Calgary's most desirable emerging urban districts. (id:65883)

Property summary

Property type

Vacant Land

Building type

Neighbourhood

Crescent Heights

Postal code

T2E0E7

Lot size

15000 square feet

Ownership / common interest

Freehold

Heating & cooling

Heating

Cooling

Building & parking

Basement

Foundation

Roof

Construction

Parking

Appliances & services

Appliances

Zoning description

MU-1

Location