Main Street Development Site
143 Main Street, Dartmouth
Property Description
Highlights
- Lot Size 27,170 sf
- Gross Buildable Area 205,800 sf
- Units +/- 203
- Price $6,000,000.00
On behalf of the owner, Avison Young is pleased to offer for sale this Main Street Development opportunity, a 27,170 sf site located in Dartmouth, Nova Scotia. The property comprises four parcels creating a rectangular lot with frontage on Main Street and Lakecrest Drive, and is approved by a recent Municipal Planning Strategy amendment as detailed in the planning overview section, including up to 205,800 sf of gross buildable area.
The planning overview section outlines a potential development opportunity for the site that would create approximately +/- 230 units with one level of underground parking, along with a site plan and building massing.
Overview
Up to 205,800 sf of gross buildable area with potential to develop +/- 230 units
Additional density through amendments to the Centre Plan enhances this opportunity to develop in an area with low vacancy rates
Excellent local and regional access while offering close proximity to a wide variety of amenities in Westphal and other areas of Dartmouth
Location Description
The property is located at 143 Main Street, along a main roadway in Dartmouth, and benefits from exceptional accessibility, being directly connected to major regional arteries including Highway 111 and Harbour Bridges. The immediate area offers a balanced mix of amenities and infrastructure. It’s in close proximity to key local services such as schools, healthcare facilities and retail centers, including Mic Mac Mall and Dartmouth Crossing, a major commercial hub with a diverse range of shopping and dining options. Additionally, the property is near several industrial zones, such as Burnside, contributing to a robust economic environment.
A blend of single-family and multi-family properties can be found in the nearby residential communities, reflecting the area’s diverse housing market. The 2023 Rental Market Report from CMHC, saw Dartmouth’s vacancy rate drop from 1.6% in 2022 to 1.4%, while the average rent increased 10.78% to $1,295.00 with the average rent for a 2 bedroom unit being $1,386.00.
Its C-2 General Business zoning offers a number of commercial uses to investors, including the recent amendments made to the Centre Plan to allow for additional density on property. As Dartmouth, Halifax and surrounding areas see historically low vacancy rates, this site offers investors the opportunity to develop multi-residential space in a prime location.
A blend of single-family and multi-family properties can be found in the nearby residential communities, reflecting the area’s diverse housing market. The 2023 Rental Market Report from CMHC, saw Dartmouth’s vacancy rate drop from 1.6% in 2022 to 1.4%, while the average rent increased 10.78% to $1,295.00 with the average rent for a 2 bedroom unit being $1,386.00.
Its C-2 General Business zoning offers a number of commercial uses to investors, including the recent amendments made to the Centre Plan to allow for additional density on property. As Dartmouth, Halifax and surrounding areas see historically low vacancy rates, this site offers investors the opportunity to develop multi-residential space in a prime location.
