Incredible multi-family development opportunity. This site is in immediate proximity to the Uptown Transit Hub - under new BC Transit Oriented Development Legislation, site permits a minimum FSR or 3.5 and minimum height of 10 stories. Saanich OCP Uptown Core designation suggests 12-18 stories with potentially up to 24. Excellent holding income from a variety of tenants. Under the Provincial TOD legislation, the municipality is not permitted to require any off-street parking (other than for disabled) - dramatically impacting development costs. Excellent candidate for CMHC MLI construction financing. Immediate access to TCH, Hwy 17, Uptown Mall, Galloping Goose. (id:47423)
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Detailed Information
Listing Contract Date
2024-05-24
Municipal ID
000-781-258
Ownership Type
Freehold
Plan
VIP877
Property Type
Multi-family
Transaction Type
For sale
Zoning
Unknown
Building
Size (Exterior)
1 square feet
Type
Multi-Family
Land
Total Size
16800 square feet
Size of Irregular Land
16800
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