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340 Palmer Rd 4.65 Acres of Residential Land Offered at $2,932,292 USD in Belleville, ON K8N 4Z2
Investment Highlights
- 4.65 acres zoned for multi-residential
- Up to 459 units with zoning amendment
- Prime Belleville location near transit & amenities
Executive Summary
4.65 Acres | Intensification Corridor | Mid-to-High Rise Potential
Strategic Development Site Policy Momentum in Place
340 Palmer Road represents a rare large-scale infill land opportunity in a municipality actively advancing housing intensification.
While a prior development concept was explored, the project was paused by the seller. The site is now being repositioned for a new vision aligned with Belleville’s updated growth direction.
Policy & Planning Context
Q1 municipal approvals support mid- to high-rise intensification within Belleville
Strong municipal push to increase housing supply
Provincial and federal alignment toward densification in secondary markets
Belleville’s Official Plan supports higher density residential where infrastructure exists
The environment today is more supportive than when the previous concept was introduced.
Site Overview
4.65 acres of infill land
Wide frontage on Palmer Road
Surrounded by established low-density residential
Minutes to Highway 401, retail, schools, transit
Serviced urban location
The size allows flexibility: mid-rise rental, condominium, hybrid tenure, or phased execution.
Why This Site Stands Out
- Scale rarely available inside Belleville’s urban fabric
- Intensification direction from the City
- Secondary market pricing with institutional upside
- Limited competing mid/high-rise sites of similar size
- Strong migration trends from GTA and Kingston
Belleville is not oversaturated. It is under-built relative to projected housing needs.
Strategic Positioning
This is ideal for:
Purpose-built rental developers
Mid-rise or high-rise condominium builders
CMHC-backed rental platforms
Long-term hold investors
JV capital partnerships
The prior concept demonstrates feasibility. The new policy direction may allow even greater density depending on final design and approvals.
Opportunity Summary
340 Palmer Road offers scale, municipal alignment, and long-term growth fundamentals in a market entering its next phase of intensification.
For developers seeking to enter Belleville at meaningful scale before density becomes fully priced into land values this is a timing play.
Property Facts
| Price | $2,932,292 USD | Property Subtype | Residential |
| Sale Type | Investment | Proposed Use | Apartment Units - Condo |
| No. Lots | 1 | Total Lot Size | 4.65 AC |
| Property Type | Land | ||
| Zoning | R2 - Residential | ||
| Price | $2,932,292 USD |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Apartment Units - Condo |
| Total Lot Size | 4.65 AC |
| Zoning | R2 - Residential |
1 Lot Available
Lot
| Price | $2,932,292 USD | Lot Size | 4.65 AC |
| Price Per AC | $630,600.42 USD |
| Price | $2,932,292 USD |
| Price Per AC | $630,600.42 USD |
| Lot Size | 4.65 AC |
4.65-acre flat infill site on Palmer Rd with 262’ frontage. Zoned R2 with amendment in progress for mid-rise residential. Prior concept for up to 459 units. Services at lot line; upgrades required for full density. Ideal for phased multi-residential
Description
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.
Presented by
340 Palmer Rd
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