C$1,700,000

Prime Colwood development opportunity on Sooke Road. This large, level 81’ x 266’ lot offers approximately 21,500+ sq.ft. within the Transit Growth Area of the Colwood OCP. Current R1 zoning, improved with a fully tenanted, detached 5-bedroom house with a 2-bedroom suite on the top level, and large workshop provides holding income during planning. OCP policy supports multi-unit residential and increased density, subject to approvals. A 6-storey residential development has been approved across the street, reinforcing the redevelopment potential of this corridor. Convenient access to transit, Veterans Memorial Parkway, Metchosin Road, Westshore Town Centre, Royal Roads University, and key amenities. This is a compelling acquisition for builders, developers, or long-term land holders looking for a strategic site in one of the West Shore’s key growth areas. Buyer to verify development potential with the City of Colwood. (id:41202)