1616 3 Street Nw, Calgary

ATTENTION BUILDERS, DEVELOPERS & INVESTORS! This is an incredible opportunity to acquire a PRIME 49' x 107' MC-1 PARCEL with an APPROVED DEVELOPMENT PERMIT for 8 UNITS in Crescent Heights! With the blanket zoning repeal now passed, and new changes coming to R-CG to limit townhome density and allowable build locations, OPPORTUNITIES TO BUILD AT THIS DENSITY ARE FEW AND FAR BETWEEN! Plus, with DP approval already in place, you can avoid the chaos and the long wait times at the City of Calgary and start building right away. The approved 8-unit project features 4 thoughtfully designed 2-storey upper units, each with the option to develop as either 2-bed/2.5-bath or 3-bed/1.5-bath configurations, depending on preference and your target market. The 4 lower-level units are all 1-bed/1 bath, with separate entrances and private laundry areas. The existing property would also be IDEAL AS A BUY AND HOLD INVESTMENT. With over 1100 sq ft above grade, this 1.5 storey character home offers 3 bedrooms + den above grade, including 1 bedroom and full bathroom on the main floor, and 2 beds and a den upstairs. A fully finished basement offers an additional bedroom/flex room (window may not meet current egress requirements) and a 3-pc bathroom.
Perfectly located in the highly desirable inner-city community of Crescent Heights, this property offers unbeatable access to amenities, transit, and downtown. Tenants will enjoy being steps from restaurants, cafés, shopping, and services along Centre Street and 16 Avenue, while downtown Calgary is just a 4-minute drive or 30-minute walk away. Nearby parks and recreation include Crescent Park, the Crescent Heights Community Association, tennis courts, playgrounds, and the iconic Crescent Road ridge with stunning downtown skyline views. Prince’s Island Park is also within walking distance. Families and students benefit from proximity to schools, including Rosedale School, Crescent Heights High School, and SAIT, all within walking or a short drive.
This is a turnkey investment opportunity with significant upside in one of Calgary’s most sought-after inner-city communities. *Development Permit Approval is subject to compliance with all DP conditions* *DP Plans are available for review upon request* * Property photos are from a few years ago and may not reflect the current state of the property** VIEW MULTIMEDIA LINK FOR FULL DETAILS! **

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