Property Description
HM Commercial Realty is pleased to present this 0.41 acre development site in Rutland with rezoning and development permit applications already submitted for an 8-unit townhouse project.
- 0.410 acre (17,860 SF) development lot with multi-family townhouse project in progress
- Well located in the Rutland core area neighborhood, at the end of a cul-de-sac near Springfield Road and Rutland Road South
- Project conceptualized and designed by an experienced land development consultant with over a decade of experience managing and planning developments, including townhouse sites
- Rezoning and Development Permit Applications already submitted to the City of Kelowna (estimated approval date of June/July 2024)
- Rezoning Application to MF1 Infill Housing to accommodate ground-oriented housing
- Development Permit Application is for 8 residential townhome units between 2 buildings: 3 x 2-storey units and 5 x 3-storey units
- All 8 units offer 3 bedrooms, backyard patios, and side-by-side double garages
- Design is well suited for a bare land strata and party-wall agreement (no strata fees for end users)
- No special Development Permits affect this site
- Due diligence documents available upon a signed NDA include a Phase 1 ESA, Geotech Report, Site Survey, Architectural Plans, Landscape Plans and City of Kelowna Pre-application Meeting Minutes
- Holding income provided from the existing duplex on site (3 units)
- Options for flexible closing. Please contact broker to discuss deal structure and pricing guidance
- Option to acquire the holding company, which eliminates the Property Transfer Tax
