Listed by Re/Max All-Stars Realty Inc..

340 Palmer Road is a Vacant Land, Other and is currently for Sale @ $3,980,000. Taxes in 2025 were $9,600.00.

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Welcome to Sand Cherry Court at 340 Palmer Road, Belleville a premier multi-residential development opportunity with exceptional potential. The Other on 340 Palmer Road has 0 bedrooms, 0 bathrooms, and is located on a 513 x 262.17 ft loton 2-4.99 acres in the community of Belleville Ward . This 4.65-acre site is currently zoned R2 - Residential, allowing for the development of seven 4-storey purpose-built apartment buildings, comprising a total of 251 residential units, including 10% designated affordable housing. The plan includes a shared underground parking garage with 239 spaces.A proposed Zoning By-law Amendment is in progress to rezone the property to R3 - Residential, which would permit increased building height and density. Under the proposed amendment, the site could support a mid-rise development of seven apartment buildings ranging from 5 to 9 storeys, offering 459 rental units, with 10% affordable housing and an expanded 395-space underground garage.This enhanced density aligns with Bellevilles Residential Official Plan designation and supports the Citys broader strategy for housing supply growth and urban intensification.Situated on the east side of Palmer Road, just south of Moira Street West, the property is nestled among established low-rise residential neighborhoods. It offers convenient access to public transit, schools, parks, and local amenities, making it an ideal location for future residential development.This is a rare opportunity to acquire a fully serviced, strategically positioned site with both as-of-right development potential and a pathway to higher-density approvals already underway.Note: There are two lots included in this offering. Image is for illustrative purposes only.

The address 340 Palmer Road was listed for sale (MLS# X12049354) on Thursday, March 27, 2025.