Development opportunity on 18.06 acres with DP application in for a phased development. Located in West Courtenay amidst new high quality residential subdivisions, a desirable development site situated between Courtenay & Cumberland. The property is accessed off the Arden Road corridor offering ease of access to the Parkway, Island Highway, downtown Courtenay, Cumberland, Puntledge River, Comox Lake and Mt. Washington's recreational mecca. The property is nestled with public walking trails traversing the property (tree assessment and riparian setbacks have been addressed) and the neighbouring subdivisions are a mix of higher end, single family and duplex lots with underground services and dedicated green space. The Piercy Creek trail network is incorporated into the area providing recreational pathways and running trails to the neighbouring subdivisions and ease of access to parks and nearby schools. The DP application in process separates the property into 3 separate parcels with Phase 1 offering 21 residential duplex lots (42 doors); Phase 2 offering 2 single family lots and 2 duplex lots (6 doors). Central portion dedicated to park land with a portion of phase 2 held for future development. The April 2022 appraisal is $6,600,000 'as is' without a development permit in place and anticipated potential gross lot resales of $13,350,000. Should a developer choose to build out the project, the profit margin would be substantially higher. The municipality supports rezoning to higher density. The seller has investigated potential options for higher density if rezoned and has concluded the following: 68 small lots, 176 townhomes, 12 x 4 story condos equating to 330 units of 700sqft, or a mixed use development of 20 duplexes, 58 townhomes and 160 condo units. The seller may consider a JV partnership or some vendor financing depending on the partner.
|Address||2201 Ronson Rd|
|Type of Dwelling||Land|
|Sub-Area||CV Courtenay West|
|Lot Size||786693.6 Sq. Ft.|
|Listing Brokerage||Royal LePage Coast Capital - Westshore|
|Postal Code||V9N 9K2|
|Amenities||Acreage, Adult-Oriented Neighbourhood, Central Location, Easy Access, Family-Oriented Neighbourhood, Park Setting, Private, Rectangular Lot, Wooded|