Turnkey Development Opportunity in a Thriving Location Located at one of Penticton's Highest Traffic Intersections, this 9,252 SQFT lot is zoned C5 – Urban Centre Commercial, offering a huge opportunity for development. With a FAR of 6.0, the current zoning allows for up to 55,512 buildable SQFT. A development permit is already approved for a six-story mixed-use building with 30 residential units and two ground-level retail spaces. The current DP plan includes 20 one-bedroom + den and 10 two-bedroom residential units as well as 2 commercial retail units at street level. Located on the city's main lake-to-lake bike lane, this property is surrounded by popular restaurants, breweries, and shops. Plus, it's just minutes to Okanagan Lake, making it incredibly desirable. With a development permit in place and a great location, this is a fantastic investment for developers and investors looking for a ready-to-go project in a high-demand area. Reach out to The Aitkens Group - Real Broker, for more information. *All boundaries shown are to highlight property location only, all borders are approximate and to be verified by the buyer. (id:47421)
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Detailed Information
Listing Contract Date
2025-03-13
Municipal ID
032-076-240
Ownership Type
Freehold
Property Type
Vacant Land
Road
Paved road
Transaction Type
For sale
Zoning
Unknown
Building
Type
Other
Utility Water
Government Managed, Municipal water
Utilities
Type
Description
Cable
Available
Electricity
Available
Natural Gas
Available
Telephone
Available
Sewer
Available
Water
Available
Land
Total Size
0.21 acres
Sewer
Municipal sewage system
Size of Irregular Land
0.21
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