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.
| Address |
41-43-51 Cadillac Ave |
| List Price |
$7,500,000 |
| Property Type |
Commercial Sale |
| Type of Dwelling |
Multi Family |
| Area |
Saanich West |
| Sub-Area |
SW Gateway |
| Lot Size |
16800 Sq. Ft. |
| MLS® Number |
965872 |
| Listing Brokerage |
Alexandrite Real Estate Ltd.
|
| Postal Code |
V8Z 1T3 |
| Tax Amount |
$15,664 |
| Tax Year |
2023 |
