282-292 Elgin Mills Road, Richmond Hill, ON
Property Highlights
Welcome to this remarkable land located in the coveted neighborhood of Westbrook. Offering a sublime balance of structural integrity and modern aesthetic appeal, this residence presents an exceptional opportunity offered at $5,900,000 to acquire a beautiful home in a highly sought-after setting. Designed for both comfortable daily living and elegant entertaining, the layout maximizes natural light, functional flow, and lifestyle utility.
- 0 Bedrooms and 0 Bathrooms
- Premium 183.67 x 186.07 ft lot size
- equipped with no central cooling and highly efficient none heating
Description
Rare opportunity to acquire a fully approved 15 unit townhouse development in the highly desirable Yonge & Elgin Mills corridor in Richmond Hill. This project features Zoning By-law Amendment (ZBA) and Site Plan Approval (SPA) in place, significantly reducing entitlement risk and saving 3 to 4 years of planning timeline for the buyer. The proposed development consists of 15 large format 3-storey POTL townhomes (9 three-bedroom and 6 four-bedroom units) with attached garages, private outdoor spaces, and roof terraces. Total buildable area is approximately 41,335 sq ft. Located in a premium infill location with strong end user demand, the site benefits from proximity to Yonge Street transit, top rated schools, parks, and major amenities. Existing properties on site generate rental income during holding period. Ideal for mid sized builders, developers, or investors seeking a shovel ready project in a supply constrained market. Vendor open to sale or joint venture structure.
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Pricing & Value Insights
Data-driven valuation for 282-292 Elgin Mills Road W, Richmond Hill, ON L4C 4M2
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Properties in this area are selling at a steady pace.
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About Purchasing a Home in Richmond Hill, ON
For a property listed at $5,900,000 in Richmond Hill, the legal minimum down payment is $1,180,000 under current Canadian banking regulations. This calculation applies a 5% requirement on the first $500,000, 10% on the next $499,999, and a flat 20% on any amount exceeding $1,000,000.
Additionally, buyers in Ontario must budget for the Provincial Land Transfer Tax, which is estimated at $133,975 for this transaction. As this listing is in Richmond Hill (outside the City of Toronto), no additional municipal land transfer tax is levied, resulting in total estimated land transfer taxes of $133,975.
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Disclaimer: AI Insights are generated by an automated system and should be used for informational purposes only. While we strive for accuracy using current market data and deep-learning models, these assessments do not constitute professional real estate, legal, or financial advice. All property values, predictions, and scores are estimates. We strongly recommend verifying all property details and conducting independent due diligence with a licensed professional before making any purchase decisions.