53 Coulter Street

• RA2 Zoning allows for High Density Residential development.
• Close to Hwy 400 / Bayfield Street interchange.
• Surrounded by many different amenities including shopping, schools, grocery and restaurants.
• Seller will consider VTB with reasonable terms.

Property Description

Squarefoot.ca Inc. Commercial Group is pleased to offer FOR SALE 1.569 AC Vacant Land along east side of Coulter Street in the City of Barrie, within Simcoe County. The Property is ideally situated within the established and ongoing intensification of the Bayfield Street corridor, which has been significantly developed, and continues to thrive. The subject site is one of the last remaining Higher-Density zoned development sites within the urban boundary of north Barrie. The size, configuration and location of the Property provides an exceptional and scalable development opportunity as it is strategically located within of the main shopping corridor that includes all necessary amenities and a just block from Hwy 400 and Bayfield Street, providing an exciting opportunity to develop a transit-oriented community. Ideally, this site, and the surrounding area, would best support a purpose built, long term rental project, or a Retirement / Senior / Long Term Care development, as the demand for both is at an all time high. The site is designated Medium-Density Residential within a Strategic Growth Area within the City of Barrie Official Plan, as approved in 2023. Policies for the site speak to a Medium Density Development, which is intended to facilitate an increase of densities and built form within the city. Development on lands designated Medium Density, such as the Coulter site, encourages mixed-use, although the current zoning does not require a commercial component within this development. Density shall be in the range of 125.0 to 300.0 units per hectare, a minimum of six storeys and a maximum of 12-storeys. Zoning uses are listed herien. In addition, as a site part of a Strategic Growth Areas, it is intended that any proposed development will be part of or planned to become a "complete community" within the area and shall accommodate higher levels of intensification, tall buildings, higher densities, and will be planned to evolve as a distinct places of major activity, situated around planned transit facilities, primary gateways into the City, and existing regional shopping destinations. Barrie has witnessed an increase in development activity in recent years, highlighting both market demand and the need for more housing options and commercial/retail development. As such, the offering provides a significant opportunity for a Buyer to capitalize on the growth and momentum of the area. On the west side of the site lies the Canadian Tire Store. In addition, Bayfield Mall, Kozlov Centre and Georgian Mall are also in close proximity of the Property providing all necessary amenities, such retail stores and restaurants, an abundance of services for future residents and workers of the Site. Within a 5km radius of the Property, the population is just over 107,195. which is anticipated to increase by 3.31% by 2028. In addition, the average household income, across 38,819 households, is $113,583, with a median income of $93,926. The average principal residence expenditure is currently $18,258 annually. These trends reemphasize the need for new residential development and in keeping up with current market activity. Key Facts: • City of Barrie has seen an 8.0% growth between 2016 and 2021, compared to Provincial average of 5.8% and National average of 5.2% • Average House Price is $717,000 in March 2024, which has been steady over the last year • Median Rent for a 1-bedroom apartment is $2,250, which is approximately 13% higher than National average • Current waitlist for affordable, RGI or subsidized housing in the County is greater than 7 years • Average wait time for retirement facility is approximately 6 months for private care, up to 2.5 years for public • Approximately 30% of the population of the City of Barrie is >55 years old • By the end of 2023, the City had issued planning approvals for 14,641 housing units. In 2023 the City had 1,809 starts—which exceeded the 2023 target of 1,687