Site Plan Approved Development | Ideal for CMHC’s MLI Select 1. Strategic Site & Approved Plan This 0.561-acre site in the heart of Waterloo is fully Site Plan Approved for a 6-storey, 73-unit rental apartment. Zoned RMU-20 (Residential Mixed-Use) under the city’s Official Plan, it allows a Gross Floor Area of ~75,000 sq.ft. The design […]
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Don’t miss out Prime Development Opportunity in Waterloo!
Register NowSite Plan Approved Development | Ideal for CMHC's MLI Select
This 0.561-acre site in the heart of Waterloo is fully Site Plan Approved for a 6-storey, 73-unit rental apartment. Zoned RMU-20 (Residential Mixed-Use) under the city’s Official Plan, it allows a Gross Floor Area of ~75,000 sq.ft. The design includes 1.5 levels of underground parking (86 residential stalls) — ideal for tenants in a growing urban hub.
💰 Price: $3,000,000 ($40/sq.ft)
💸 Current Income: $129K Gross / $111K NOI
🏗️ Eligible for CMHC’s MLI Select Program, enabling high-leverage, long-amortization financing for energy-efficient, affordable rental housing.
This property combines development-readiness, existing income, and CMHC incentives — a rare low-risk, high-upside opportunity.
📊 As of Feb 2025:
– Median rent: $2,125/mo (+12% vs national avg)
– Average rent: $2.71/sq.ft
– Avg salary: $60,250 | Avg household income: $122,400
– Rent affordability threshold: ~$85K household income
This makes Waterloo highly suitable for MLI Select’s affordability benchmarks, while also being primed for long-term rental growth due to a strong university-led economy.
📈 Nearby pre-construction condos are trading at $950–1,350/sq.ft, including:
– TEK Tower – $1,350/sq.ft
– DUO at Station Park – $1,100/sq.ft
– Strata & Q Condos – Avg. ~$980/sq.ft
🚆 Transit Access:
– 9 min to Kitchener GO Station
– 27 min to KW Airport
– Proximity to University of Waterloo & Wilfrid Laurier University
📩 Contact us to sign the CA and access the full data room.
This is your chance to secure a shovel-ready, income-generating, CMHC-eligible rental project in one of Ontario’s most promising growth corridors.
300 Richmond St W #300, Toronto, ON M5V 1X2
inquiries@Condoy.com
(416) 599-9599
We are independent realtors® with Home leader Realty Inc. Brokerage in Toronto. Our team specializes in pre-construction sales and through our developer relationships have access to PLATINUM SALES & TRUE UNIT ALLOCATION in advance of the general REALTOR® and the general public. We do not represent the builder directly.
