Another brokerage is going to take a swing at selling a large parcel of undeveloped land on the southwest side of Rosehill Cemetery in the Bowmanville pocket neighborhood. Located just blocks away from attractions like the Half Acre brewery, grocery shopping, Winnemac Park, and of course, Rosehill Cemetery, the 11.32-acre property is listed with a $12.326 million price tag. An offering memorandum included in the new listing provides more details on the property, its zoning, and what can ultimately be built at the site.
The undeveloped property is not new to the market however. It has been listed for sale for a number of years and was most recently the focus of a proposal for a new charter school from Intrinsic Schools. The group, which presented its plans to the Bowmanville community two years ago, planned to enroll 1,000 students after the completion of the first phase of the school complex, DNAinfo reported at the time. However, the school announced in the summer of 2015 that it had dropped its plan for the new facility on the Rosehill property.
The new marketing materials for the property touches nearby attractions and amenities, but it also highlights the parcel’s RM-5 zoning. The zoning designation typically allows for taller, dense residential development, but in this case, the property is deed restricted and only available for limited uses. Developments such as a school, a nursing home, a retirement home, a health care facility, or a religious facility such as a church or synagogue are listed as suggested uses for the site.
The property is being offered at $25 per square foot which comes to $12,326,175 for the entire 11.3188-acre lot.
- 5451 N. Western Ave. [LoopNet]
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