32 Parsons AvenueSt. Albans Town, VT 05481Price: $1,850,000

Rare 56 Unit Development Opportunity in St. Albans! An exceptional offering for investors, builders and developers seeking a sizable, entitled project in one of Northwest Vermont's growing communities. Alton's Landing is currently Town-approved for 56 residential units, providing the opportunity to move forward with a substantial development while still offering compelling longer-term possibilities. The approved concept consists of 14 four-unit townhouse buildings, for a total of 56 residences. Each thoughtfully designed unit features 3 bedrooms, 2.5 baths, approximately 1,244 SF of finished living space, an attached one-car garage and an unfinished basement-an attractive configuration for owner-occupants, resale buyers or long-term rental tenants. For those looking to maximize the property's potential, preliminary concepts indicate the site may offer the potential for up to approximately 80 units, subject to a new design, additional municipal review and all required approvals. This creates tremendous flexibility: build the currently approved project for individual resale, develop and retain the community as a significant rental portfolio, pursue a combination of strategies, or explore an entirely new development vision. During the entitlement process, the Town Manager also expressed interest in potentially exploring the CHIP program in connection with the project, including possible roadway and pedestrian-access improvements. If available and ultimately applicable, such a program could potentially help offset a portion of upfront infrastructure costs. Buyers should independently investigate program eligibility, availability, funding and requirements. The location further strengthens this opportunity-minutes from I-89, the Collins Perley Sports & Fitness Center, downtown St. Albans, shopping, dining, recreation and the many amenities of this growing community. Few offerings combine this level of existing approvals, scale, flexibility and future potential.