Sierra Avenue Development

Property Features

• Cushman & Wakefield Atlantic is pleased to present this prime multi-unit residential development opportunity in Rothesay, New Brunswick.
• Located in a prime development area within the town of Rothesay. The surrounding area is residential and commercial in nature
• The surrounding area offers a great selection of amenities with the towns most significant commercial node only minutes away, along with quick access to New Brunswick Route 1, providing direct travel to Saint John.
• Ideally located to benefit from the high demand and low supply of quality 55+ multi-residential housing. Favourable market conditions for affordable senior housing.

Location

The town of Rothesay and the immediate vicinity has experienced an increase in proposed developments in recent years, which should help facilitate the growth in the area. As such, this site offers an excellent opportunity for a developer to expand on the growth as the area continues to mature.

Any development on this property would be governed by the Rothesay Municipal Plan, which provides clear form based standards. The site lends itself to many possible configurations, however, the most likely option is the addition of a new cul-de-sac at the end of Sierra Avenue, providing six (6) lots with 40 units each, along with the creation of a new street adjacent to Rockhaven Place, allowing for an additional six (6 lots with 12 units each).

The Rothesay R4 zone is a multi-unit residential zone, that allows for the development of apartments and attached housing at the highest density permitted by the Rothesay Municipal Plan, which is 20 units per acre or 50 units per hectare. Multiple buildings per lot may be permitted subject to PAC approval, appropriate access to public road right of way and an internal circulation system that meets the requirements of the National Building Code of Canada as adopted by the Province of New Brunswick.