Description

A well-positioned lakefront residential development investment opportunity is available for builders and developers seeking a manageable-scale project. This approximately 3/4-acre property fronts Diver Lake, featuring flexible COR2 zoning, which supports street-oriented, medium-density residential and mixed-use development along major corridors. The site previously held a Development Permit for approximately 16–20 residential units in a multi-storey building with underground parking. While a new Development Permit will be required, the prior approval demonstrates the site’s suitability for a purpose-built rental apartment or boutique condominium project at a manageable scale. With strong southern exposure, direct lake frontage, and proximity to schools, transit, and amenities, this property offers a compelling infill development opportunity within Nanaimo’s growing urban corridor—well suited to developers seeking an efficient project with long-term rental or sell-out potential. (id:2469)

Listing Provided By

RE/MAX Camosun

Copyright and Disclaimer

All information displayed is believed to be accurate, but is not guaranteed and should be independently verified. No warranties or representations of any kind are made with respect to the accuracy of such information. Not intended to solicit properties currently listed for sale.

The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.

REALTOR® contact information provided to facilitate inquiries from consumers interested in Real Estate services. Please do not contact the website owner with unsolicited commercial offers.