Property Description
850 Wiltse Boulevard and 160 Crow Place comprises two titles, totaling 317 acres, with stunning lake views and flat building benches.
HIGHLIGHTS
- 317 acres in two (2) titles
- Series of natural flat benches
- Stunning lake views
- Largest subdivision in Penticton for development
- Freehold land (not leasehold)
- Projected density of +/- 686 residential units on lower level
- 125 acres +/- for future growth (50-100 estate lots)
- 51.4% of the land (39.8 HA) is dedicated to Parks/Conservation Area
- Grading plans, engineering reports/cost estimates available with signed NDA
MARKET INSIGHT
- Penticton’s population has increased 9.3% in the last 5 years, growing to 36,885 people in 2021.
- As the largest remaining subdivision for development in Penticton,
- Wiltse Flats holds approximately 682 future homes with a mix of single family, multi-family and duplex units. It is estimated that there are only 1,000 single family lots remaining in all of Penticton.
- Estimated lot prices for Wiltse Flats will sell between $400,000-$500,000.
- HM Commercial, along with Penticton real estate agents, project that finished home sales will sell between $900,000-$1,600,000.
- With such little competition in the market, there will be an upward pressure on lot sales going forward.
** The Vendor’s preference is to provide prospective buyers with 2 weeks to conduct advance due diligence so they can make an informed offer. A complete dataroom will be made available to those parties who sign a non-disclosure agreement.
