Lakeview Multi-Family Site

Vacant Land for Sale
Catylist Listing ID: 30265762
Property Subtypes: Multi-Family
Gross Land Area: 15.12 Acres
Sale Price: $4,400,000
Unit Price: $291,005 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/1/2019

Overview / Comments

Lakeview multi family development site adjacent to The Rise Golf Course in Vernon, BC. 15.12 acres planned for 88 multi-family units. Designed for maximum development with minimum impact on views. Partially serviced and mostly adjacent to an established Boulevard. In an area of quality homes. Over $1 million worth of Development Cost Credits could be available to Buyer Developers, based upon existing approved architectural plans and the City of Vernon's Development Credits schedule. This could be a huge bonus for a Buyer. New multi-million dollar expansion project at The Rise is now approved and will include a 30,000 square foot multi-amenity building featuring a world-class restaurant and bar as the main attraction. This Development may be purchased as one aggregate or as any of the three phases individually. Pricing for the individual phases as follows: Phase 1 - $1,400,000; Cul-de-Sac - $500,000; and Phase 2 - $3,100,000. Full architectural plans, strata plans, and summary of Presumed Site Servicing is available upon request,

Additional Details

Nearest CMA: Vernon
Regional District: North Okanagan
Parcel ID: 026-469-049
Zoning: RTR: RESORT RESIDENTIAL
Legal Description: Lot 4 Section 31 Township 9 Osoyoos Division Yale District Plan KAP78317
Largest Nearby Street: Okanagan Hills Boulevard
Feet of Frontage: 2,760
Site Description: Lakeview multi family development site adjacent to The Rise Golf Course in Vernon, BC. 15.12 acres planned for 88 multi-family units. Designed for maximum development with minimum impact on views. Partially serviced and mostly adjacent to an established Boulevard. In an area of quality homes.
Zoning Description: Resort Residential. The purpose is to provide a zone for the development of a variety of housing forms for use within a comprehensively planned resort residential community.
Development Name: The Tannins
Available Utilities: Water, Sewer
Water Service: Other
Sewer Type: Municipal

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Contact

Photograph of Listing Agent

Don Kassa

RE/MAX - Vernon Commercial First Member
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