About This Property
Prime development site in Duncan with R8 zoning already in place—no rezoning required. This property forms part of a strategic land assembly with 2566 Lewis St, combining for approximately 0.62 acres and approximately 36 metres of frontage. The site offers a functional development footprint suited for a 3–4 storey apartment project. Unlike many sites limited to townhouse density, this zoning allows for apartment-style development, maximizing potential yield. Situated in an area with strong rental demand and limited supply, this is a compelling opportunity for developers. To be sold in conjunction with 2562 Lewis St. (id:64973)
At $55.55 per square foot, this vacant land in Duncan represents strong value compared to the city's average of $70 per square foot for similar R8-zoned properties. The zoning's allowance for a 3-4 storey apartment project makes this an attractive proposition for real estate developers seeking to maximize yield on a centrally located site. This property is well-suited for experienced multi-family developers looking to capitalize on Duncan's growing rental demand and limited supply of apartment-zoned land, with the potential to deliver a high-density project in a prime location.
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