PRIME PARCEL IN CRESCENT HEIGHTS WITH APPROVED DEVELOPMENT PERMIT (DP) FOR 8 UNITS!
Opportunities to build at this density are few and far between now that the City has repealed the blanket rezoning and is proposing to reduce allowable density and townhome-suitable locations in the R-CG bylaw.
Plus, with DP approval in place, you can avoid the chaos and the long wait times at the City of Calgary and start building right away.
APPROVED PROJECT DETAILS
The approved development features 4 well-designed upper units, each offering a functional main-floor layout with spacious living and dining areas, a modern kitchen with an island and pantry, and a 2-piece bathroom and in-suite laundry.
The upper floors have been designed with flexibility in mind, offering either 2-bedroom configurations with walk-in closets and private ensuites, or the option to convert to a 3-bedroom, 1-bath layout, depending on your vision and target market.
Each of the 4 lower units was designed to maximize livability with large windows in both the bedrooms and living areas, enhancing natural light and rental appeal. These lower units feature 1-bedroom and 1-bathroom, with private laundry and separate entrances.
With a total of 8 rentable units in a prime inner-city location, this project boasts strong income-generating potential at a very attractive price.
BUY AND HOLD INVESTMENT
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.
THE LOCATION
Perfectly positioned just off 16 Avenue and Centre Street, the location of this project offers exceptional connectivity and lifestyle appeal. Tenants will enjoy being just steps from numerous shops, services, and restaurants along 16th Ave and Centre Street.
Opportunities to build at this density are few and far between now that the City has repealed the blanket rezoning and is proposing to reduce allowable density and townhome-suitable locations in the R-CG bylaw.
Plus, with DP approval in place, you can avoid the chaos and the long wait times at the City of Calgary and start building right away.
APPROVED PROJECT DETAILS
The approved development features 4 well-designed upper units, each offering a functional main-floor layout with spacious living and dining areas, a modern kitchen with an island and pantry, and a 2-piece bathroom and in-suite laundry.
The upper floors have been designed with flexibility in mind, offering either 2-bedroom configurations with walk-in closets and private ensuites, or the option to convert to a 3-bedroom, 1-bath layout, depending on your vision and target market.
Each of the 4 lower units was designed to maximize livability with large windows in both the bedrooms and living areas, enhancing natural light and rental appeal. These lower units feature 1-bedroom and 1-bathroom, with private laundry and separate entrances.
With a total of 8 rentable units in a prime inner-city location, this project boasts strong income-generating potential at a very attractive price.
BUY AND HOLD INVESTMENT
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.
THE LOCATION
Perfectly positioned just off 16 Avenue and Centre Street, the location of this project offers exceptional connectivity and lifestyle appeal. Tenants will enjoy being just steps from numerous shops, services, and restaurants along 16th Ave and Centre Street.
In this central location, Downtown is a mere 4 min drive or just 30 mins away on foot, making this location incredibly attractive for anyone working downtown.
Plentiful parks and outdoor space are also nearby, including Crescent Park with its tennis courts, playground, baseball diamonds and the Crescent Heights Community Association. The iconic Crescent Road ridge is also nearby, known for some of the best downtown skyline views in the city. Princes Island Park is also a quick 20-min walk away.
Families and students will appreciate the proximity to numerous schools, all within a 5 min drive or 10-20 min walk. This property is just 16 mins on foot from Rosedale School (K-9), 12 mins on foot from Crescent Heights High School (10-12) and 18 mins on foot from SAIT.
Public transit options abound in this location, from the LRT to numerous bus routes. Plus, easy access to 16th Ave and Deerfoot Trail makes getting around the city a breeze.
A RARE OPPORTUNITY
Opportunities for well-located parcels of land with approved development permits in place are increasingly scarce—this is your chance to step into a turnkey project with significant upside.
Reach out today for more information!
Opportunities for well-located parcels of land with approved development permits in place are increasingly scarce—this is your chance to step into a turnkey project with significant upside.
Reach out today for more information!
*Development Permit Approval is subject to compliance with all DP conditions.
*Photos of the existing property are from a few years ago, and may not reflect the current condition of the home.
*DP Plans are available for review upon request.
Address
1616 3 Street NW
Sold Date
19/05/2026
Type of Dwelling
Detached
Transaction Type
Sale
Area
Calgary CC
Sub-Area
Crescent Heights
Listing Brokerage
RE/MAX HOUSE OF REAL ESTATE
Zoning
M-C1