BY Condo Dork Team/March 7, 2019
Opportunities lurk… with this, there are many Opportunities in Understanding Zoning in the City of Ottawa. As part of the city of Ottawa’s attempts to re-intensify (increase density) in the city centre, they published new zoning by laws and regulations in 2011. These bylaws can drastically affect the highest and best use of properties. Hence, knowing and understanding these by laws opens doors to the possibility of extracting value where it was not before, or others do not know exists.
Residential zones in our city are divided into 4 main zones. R1, R2, R3, & R4. Each of these zones have sub-zones that further classify the usability of the subject property that you may be interested in.
Click here to learn more about my favourite money-making zone – R3. This Zone is not overly complex, the barriers to entry are relatively achievable, and scope of understanding/proficiency needed to navigate profitably is definitely attainable. As you read through the zone, you will find yourself looking at a chart that outlines the available uses of a specific parcel, as well as lot area requirements, minimum frontage requirements, set back requirements, etc.
At a glance, this may seem like numbers on a page. If you look closer and really try to absorb this information you may find yourself (as I did) driving up and down streets in mature R3 zones. You will be looking for large side yards that may be severable and sellable, side by side duplex’s that may be able to be subdivided and sold separately, the list goes on and on.
In summary, opportunities are out there. Understanding zoning regulations will definitely help with making smart real estate investments. Even if you are just purchasing your primary residence, understanding that there may be fall back development potential can turn out to be a huge financial gain. Increased knowledge reduces risks, and I would say, understanding zoning is a must.
As always, feel free to shoot me any questions you may have, whether about opportunities in understanding zoning in the City of Ottawa, condos in Ottawa, or anything real estate.