Description

Shovel-ready multifamily development opportunity in the heart of Nanaimo. This R8-zoned property allows for medium-density residential use, with potential for over 20 units at its highest and best use. The site currently has an approved Development Permit (#130400) in place for a 13-unit project consisting of twelve two-bedroom suites and one spacious penthouse unit. All supporting documentation???including architectural, civil, structural, mechanical, electrical, and landscaping plans???is fully completed and included in the sale. The seller is open to creative financing options, making this an ideal opportunity for developers. Located in the sought-after Townsite area, the property is within walking distance to the waterfront, Bowen Park, schools, transit routes, and downtown Nanaimo. It???s also just a short drive to Nanaimo Regional General Hospital (3 minutes), Vancouver Island University and BC Ferries (6 minutes), and several major shopping centres. The lot currently features a three-bedroom rental rancher and a detached garage with lane access???sold ???as is, where is.??? The entire property is fully fenced. All measurements are approximate and should be verified if fundamental to the purchase.