Presenting the exceptional opportunity to acquire three single family lots for a total of 1.5 acres of residential redevelopment land in the emerging Bell McKinnon neighbourhood of North Cowichan. This site’s land use designation encourages high-density residential development, allowing for the construction of 3-5 storey apartments or multifamily residential, plus a mix of townhomes making it an ideal investment for developers. Strategically situated just steps away from the new Cowichan District Hospital Project currently underway, this site is poised to benefit from the ongoing servicing being constructed along Bell McKinnon Road for the Project. This presents a favourable outlook for development and future growth.
The Cowichan Regional Housing Needs report for 2021 found that the housing density in the Cowichan Region is notably lower compared to other regions in British Columbia. Insufficient land supply has made it difficult to meet the increasing demand for both rental and purchase options, and the existing housing are not aligned with the needs of residents. As a result, the Economic Development Cowichan organization has launched an initiative to address the housing scarcity. According to the Cowichan Regional Housing Needs Assessment report, the region needs around 4,955 new housing units by 2025 to fulfill the housing requirements of its growing population.
6721 Bell McKinnon Road, North Cowichan, BC
6715 Bell McKinnon Road, North Cowichan, BC
6707 Bell McKinnon Road, North Cowichan, BC
LAND USE DESIGNATION
Residential High Density
R1 – Residential Rural Zone
Three (3) Single Family Detached (owner-occupied)
* Potential to purchase neighbouring property for a total of 2 acres
Asking Price: $3,800,000.00