This is an exceptional opportunity to develop one of the last remaining large lots for apartment housing in Penticton. Penticton is surrounded by 2 lakes and mountains on either side which keeps the land market very tight.
- 2.0 acre RM3 – Medium Density Multiple Housing with an FAR of 1.6
- Penticton has a very low vacancy rate, last year around 1.0%
- Forecasted 2% population growth, and rental properties are in high demand
- City very supportive of higher density development
- Adjacent to Okanagan College who would like to secure multiple units
- Walking distance to Queen’s Park Elementary School and downtown Penticton
- Vendor open to discussions for potential expansion area (4.644 acres)
PRICE: LOT B (2.0 acres) $7,595,000
PRICE/BUILDABLE SF: $54
PRICE/SF OF LAND: $87
955 Timmins Street, Penticton, BC, Canada
955 Timmins Street ,
||LOT B of Proposed Subdivison of LOT 2 DISTRICT LOTS 1, 2 AND 4 GROUP 7 SIMILKAMEEN DIVISION YALE(YALE-LYTTON) DISTRICT PLAN 36021 as shown on Schedule B.
||955 Timmins Street is exceptionally well located beside Okanagan College, Penticton Campus, Canadian Tire and across the street from King’s Park. Just 5 minutes to downtown Penticton, this property is well situated to grocers, shopping, restaurants, and professional services. It is also just 5 minutes to Okanagan Lake Beach!
|Development Site Area
||M1 General Industrial
|Future Land Use
|RM3 Medium Density Multiple Housing
E. & O. Insurance. The information contained herein is assumed to be correct but is not guaranteed by the Listing Agent or Publisher and should be verified.
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