$925,000

Unlock a prime development opportunity in the heart of Lake Country's Town Centre! This property has C1 zoning, aligning with the Official Community Plan's vision for mixed-use residential development. Planning officials have indicated that rezoning applications are discouraged, affirming the current zoning's strategic value. Development Highlights: Zoning Alignment: C1 zoning is in place, supporting mixed-use residential projects in line with the OCP. Incentive Potential: Potential qualification for Main Street tax and usage (density) incentives. Rental Tax Exemption: Possible eligibility for the Lake Country rental tax exemption bylaw, offering a 10-year property tax reduction for purpose-built rentals with a 10-year covenant. Town Centre Location: Situated within the Town Centre, requiring adherence to future form and character requirements during development application. Diverse Usage: Nearly 50 approved usages under the current zoning. Preferred Development: The planner suggests a mixed-use approach with grade-level service and amenity commercial units, topped with residential space. Development Capacity: Potential for a 6-story or 22m development as mixed-use commercial, contingent on meeting density bonuses and supported by the Town Centre designation. This is a chance to invest in a property with substantial development potential and attractive local incentives. Contact us today to explore the possibilities and take the first step towards your next successful project (id:5764) Unlock a prime development opportunity in the heart of Lake Country's Town Centre! This property has C1 zoning, aligning with the Official Community Plan's vision for mixed-use residential development. Planning officials have indicated that rezoning applications are discouraged, affirming the current zoning's strategic value. Development Highlights: Zoning Alignment: C1 zoning is in place, supporting mixed-use residential projects in line with the OCP. Incentive Potential: Potential qualification for Main Street tax and usage (density) incentives. Rental Tax Exemption: Possible eligibility for the Lake Country rental tax exemption bylaw, offering a 10-year property tax reduction for purpose-built rentals with a 10-year covenant. Town Centre Location: Situated within the Town Centre, requiring adherence to future form and character requirements during development application. Diverse Usage: Nearly 50 approved usages under the current zoning. Preferred Development: The planner suggests a mixed-use approach with grade-level service and amenity commercial units, topped with residential space. Development Capacity: Potential for a 6-story or 22m development as mixed-use commercial, contingent on meeting density bonuses and supported by the Town Centre designation. This is a chance to invest in a property with substantial development potential and attractive local incentives. Contact us today to explore the possibilities and take the first step towards your next successful project (id:5764)