St. Albans Town, VT | 00 Parsons Avenue

Description

Rare 56-Unit Development Opportunity in St. Albans! An exceptional offering for investors, builders and developers seeking a sizable, Town-approved project in one of Northwest Vermont’s growing communities. Alton’s Landing is currently approved for 56 residential units, offering the ability to advance a substantial development while preserving compelling longer-term possibilities. The approved concept consists of 14 four-unit townhouse buildings each thoughtfully designed, featuring 3 bedrooms, 2.5 baths, approximately 1, 244 SF of finished living space, an attached one-car garage and unfinished basement. An attractive configuration for individual resale or a long-term rental portfolio. A significant development advantage is the availability of municipal water and sewer, along with natural gas located directly at the road. Access to these key utilities is a substantial benefit for a project of this scale and enhances both development feasibility and future residential desirability. For those seeking to maximize the property’s potential, preliminary concepts indicate the site may accommodate approximately 80 units, subject to redesign, municipal review and all required approvals. This creates exceptional flexibility: build and sell the approved units, retain the community as a substantial rental portfolio, pursue a combination of strategies, or explore a new development vision. During the entitlement process, the Town Manager also expressed interest in potentially exploring the CHIP program for possible roadway and pedestrian-access improvements, which could potentially offset certain infrastructure costs if available and applicable. Buyers should independently investigate eligibility, funding and requirements. Conveniently located minutes from I-89, Collins Perley Sports & Fitness Center, downtown St. Albans, shopping, dining and recreation. Few opportunities combine this level of approvals, scale, utility infrastructure, flexibility and future potential!