Incredibly rare redevelopment opportunity! Three parcel Land Assembly in the revitalized heart of Esquimalt's Saxe Point neighborhood. Current OCP Designation permits medium multi family with a density of 2.0 and up to 6 storys, finished livable of 40,000 square feet. The floor area ratio could go even higher with approved amenity bonusing. For the past two years, similar built out condo developments have been selling at an average price of $600/square foot, with some recent sales going for as high as $750+/square foot. The potential positive impact on the township and returns on a redevelopment are outstanding. This Assembly is located across the street from the highly anticipated Esquimalt Town Square, two minutes to the Esquimalt Rec Centre, Plaza, and minutes walk to Saxe Point Park. Once redeveloped many south facing units would enjoy views of the Ocean and the Olympic Mountains. This is by far the most exciting Assembly offering in ages!
Courtesy of Newport Realty Ltd.