The property benefits from development incentives offered by the local zoning guidelines. Specifically, due to the Tier 3 status of this property, the City allows for a higher density or Floor Area Ratio commonly referred to as “FAR” in the Real Estate development industry. Due to the proximity of the subject property to the Major Transit Stop, it is considered to me within a Tier 3 property. A Tier 3 property benefits form percentage increase of up to 50%, or an FAR increase resulting in at least a 3.75:1 FAR in commercial zones, whichever is greater.