A well-positioned lakefront residential development investment opportunity is available for builders and developers seeking a manageable-scale project. This approximately 3/4-acre property fronts Diver Lake, featuring flexible COR2 zoning, which supports street-oriented, medium-density residential and mixed-use development along major corridors. The site previously held a Development Permit for approximately 16–20 residential units in a multi-storey building with underground parking. While a new Development Permit will be required, the prior approval demonstrates the site’s suitability for a purpose-built rental apartment or boutique condominium project at a manageable scale. With strong southern exposure, direct lake frontage, and proximity to schools, transit, and amenities, this property offers a compelling infill development opportunity within Nanaimo’s growing urban corridor—well suited to developers seeking an efficient project with long-term rental or sell-out potential. (id:47421)
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Detailed Information
Listing Contract Date
2026-01-22
Municipal ID
030-366-810
Ownership Type
Freehold
Plan
EPP69258
Property Type
Vacant Land
Transaction Type
For sale
Zoning Description
COR2
Zoning
Unknown
Building
Land
Total Size
0.75 acres
Size of Irregular Land
0.75
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