539 George St N 0.59 Acres of Residential Land in Peterborough, ON K9H 3S1

539 George Street North presents a rare opportunity to acquire a fully approved, shovel-ready multi-residential development site in the heart of downtown Peterborough. This 0.59-acre parcel is municipally zoned for a six-storey, purpose-built rental building comprising 95 residential suites and 2,717 sq. ft. of ground-floor retail space. The project includes 32 surface parking stalls and a thoughtfully designed suite mix of bachelor, one-bedroom, and two-bedroom units, with 10 suites designated as affordable housing.
Strategically located between London Street and McDonnel Street, the site offers unmatched walkability to civic institutions, public transit, and cultural amenities. It sits steps from Peterborough City Hall, Confederation Square, and the Armoury National Historic Site, with Trent University just 2 km away and Fleming College a five-minute drive. This central location supports strong rental demand from students, professionals, families, and downsizers.
The property benefits from several development incentives, including exemption from development charges until January 2027 and eligibility for both the Brownfield Tax Incentives Program (BTAP) and the Central Area Revitalization Grant Program (TARP). Technical reports—including geotechnical, environmental, archaeological, and stormwater management—have been completed, and the project is ready for Site Plan Agreement entry. Energy modeling indicates a 29% reduction in consumption and 25% reduction in greenhouse gas emissions compared to the 2015 NECB.
With its prime location, robust approvals, and compelling financial incentives, 539 George Street North is ideally positioned for developers seeking a high-quality, sustainable rental asset in a growing Ontario market.