850 Wiltse Blvd. & 160 Crow Place, Penticton, BC - Largest Remaining Family Subdivision in Penticton for Development
Pending

Largest Remaining Family Subdivision in Penticton for Development

850 Wiltse Blvd. & 160 Crow Place, Penticton, BC, V2A 7V8

Price:
$27,000,000

Property Description

850 Wiltse Boulevard and 160 Crow Place comprises two titles, totaling 317 acres, with stunning lake views and flat building benches.

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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.

850 Wiltse Boulevard, Penticton, BC, Canada

Additional Information

Municipal Address 850 Wiltse Blvd. & 160 Crow Place, Penticton, BC, V2A 7V8
Legal Description Lot B Plan KAP43260 District Lot 2710 Land District 54Except Plan KAP72732 & EPP74771 (850 Wiltse Blvd.) and Lot A Plan KAP70035 District Lot 2710 Land District 54 (160 Crow Place)
PID 016-182-448 and 025-172-468
Location Details Wiltse Flats is well located in the hills adjacent to the heart of Penticton. Walking distance to Wiltse Elementary School, 5 minutes to Walmart, restaurants, 10 minutes to Skaha Lake and Okanagan Lake beaches.
Development Site Area 316.526 AC
Land Area 316.526 AC
Zoning A,Agriculture, P1, Public Assembly, R1, Large Lot Residential
Future Land Use
(OCP)
Natural and Conservation Areas, Parks, Institutional and Civic, Ground Oriented Residential
Base Rent $39,589/unit PSF

Listing Agents

Jeff Hudson PREC - Principal / Co-Founder at HM Commercial Group

Jeff Hudson

Marshall McAnerney PREC - Principal / Co-Founder at HM Commercial Group

Marshall McAnerney

Request More Info

If you would like more information about this listing or to request a viewing, please fill out the form below. You can also reach us at 250.712.3130 or by email info@hmcommercial.com.