An exceptional opportunity to own a high-profile multi-family development site in the affluent municipality of North Saanich. Designated as “Multi-Family Affordable Residential”, this 0.5-acre site would permit up to 15 townhome or 30 condo units per acre under the current OCP. Centrally located in Area 1 (McTavish), this node has been earmarked for increased density. The new, upcoming OCP is anticipated to be adopted in mid-2022 should the purchaser decide to hold in the near term. Alternatively, a 5-lot single family home subdivision may be possible with local precedent at the neighbouring Eaglehurst subdivision. The property is currently improved with a two-storey home with revenue suite. Located a short drive away is downtown Sidney, Victoria International Airport, Swartz Bay Ferry Terminal and downtown Victoria. Qualified buyers should conduct their own due diligence with the local municipality and relevant consultants regarding development potential.
| Property Type | Residential Revenue |
|---|---|
| Lot Size | 0.5 acres |
| Year Built | 1981 |
| Lot Size | 21780 square feet |
| Lot Features | Acreage, Central Location, Cleared, Easy Access, Landscaped, Level, Marina Nearby, Park Setting, Private, Recreation Nearby, Rural Setting, Serviced, Shopping Nearby, Sidewalk, See Remarks |
| Parking | On Site |
| Site Features | Balcony, Balcony/Deck, Balcony/Patio, Fencing: Partial, Garden, See Remarks, Basement, Bike Storage, Indoor Parking, Laundry Room, Parking, Shopping Nearby, Storage Room, Visual Exposure, Workshop, See Remarks |
Listing brokerage: 8X Real Estate
Listed by Dustin Miller
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Century 21 Queenswood Realty Ltd.
602 Courtney St.
Victoria BC V8W 1B6
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