Description

An exceptional development opportunity in one of Victoriaa??s most strategic growth corridors. Situated on a rare 0.72 acre parcel, 4511 Pachena Place offers outstanding redevelopment potential in an area identified by the Districta??s Official Community Plan for increased residential density. Located within the Saanich Corridors growth area, this property is positioned along a key transportation and infrastructure route designated to accommodate future higher density housing. Just minutes from Broadmead Village, the Primary Urban Centre, major shopping, restaurants, transit routes, parks and every imaginable amenity, this is exactly the type of location developers seek for their next multifamily project. The existing, well maintained residence provides excellent holding income while development applications, planning and permitting are underway. The home features three bedrooms on the main level along with a self contained one bedroom suite below, making it an ideal rental property during the entitlement process. With a level building site, services available, outstanding central location and tremendous long term upside, opportunities of this size and quality are becoming increasingly rare. Whether youa??re a developer, investor or land banker looking to capitalize on Saanicha??s vision for future growth, this property represents an exceptional opportunity to secure a prime piece of real estate in one of Greater Victoriaa??s most promising redevelopment areas. Buyer to verify all redevelopment potential, zoning, servicing and development opportunities with the District of Saanich.