INVESTMENT PROPERTY | 7-10 UNIT TOWNHOUSE DEVELOPMENT OPPORTUNITY
London Pacific is pleased to present for sale a prime development site in the heart of thriving Squamish, in the next area to be slated for development and up-zoning according to the Squamish OCP and scheduling from Squamish Planning Department.
Currently, the single-family home built in 1962 rests on a parcel with a total of some 22,312 sqft, in the exclusive residential area of Garibaldi Estates. The location is within a very short walk to the Garibaldi Village shopping complex, which includes a large variety of stores from Canadian Tire and London Drugs to liquor stores, coffee shops and more.
Set on a flat half-acre lot, this site is currently occupied by a 3 bedroom house currently rented at $1,800 per month, giving an investor a good return on investment whilst waiting for the inevitable zone change to multi-family.
A pre-application meeting was previously completed in 2018, which was for a potential development of 7 townhouses and an additional residential component, or as an alternative, this could potentially be changed to accommodate 10 smaller-sized units.
The District of Squamish indicated at that time that any redevelopment of this site would strictly be dependent on the outcome of the local area planning process that is now underway and once completed this will dictate any possible changes to the zoning at that time.
Prime Location | Squamish
One of the fastest-growing communities of British Columbia, this town has surpassed all reckoning in terms of growth over the last 5 – 6 years and is firmly establishing itself as both a bedroom community for office and professional workers from Vancouver, as well as the ultimate outdoor destination in Southern BC.
+ Most exclusive residential area in Squamish
+ Potential assembly with neighbours
+ Potential for up to 10 townhouses
+ Great Location
+ Level half acre
+ Close to City Centre
+ Close to all amenities
+ One block from Garibaldi Village
+ Rezoning will occur following LAP (scheduled next)
+ Great hold income from good rental tenants