239-241 Hemlock St

15,274 sq ft As-of-right medium-high density residential development site in the heart of the Kitchener-Waterloo student housing neighbourhood of Albert and University. This unique property is sandwiched perfectly just steps from both the University of Waterloo and Wilfried Laurier University campuses on one of the last remaining site available for high density student housing in Waterloo. This site is located only a 10-minute walk to Laurier-Waterloo Park Station on the ION Light Rail. Due to the prime location, this property has a very low parking minimums of 0.2 per bedroom, allowing for none or minimal underground parking to be build depending on a potential site plan. There is a precedent for the City of Waterloo approving increased height and bedrooms in this zoning. Waterloo is consistently ranked one of the best urban areas in Canada for investment in student housing, with two highly respected Universities as well a Conestoga College.

Two single-detached houses on one lot. Potential rental income from existing structures is a combined estimated $7,200.