Multi Family located in Saanich West - SW Gateway, V8Z 1T3
sqft, Beds, Baths
MLS #965872
Listed by Nick WiseAlexandrite Real Estate Ltd.
Listed by Nick WiseAlexandrite Real Estate Ltd. - Listed On: May 24, 2024
- Type: Commercial Sale
- Lot Size: 0.39 acres
- Parking Features: On Site,
Description
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.