RE/MAX Real Estate Services Blog
Property listed at 1775 NANAIMO ST in Vancouver.
Large corner investment/holding property available within the 'Grandview Woodland Community Plan - Nanaimo.' Great mixed-use strata/rental development potential, with building height up to 6 storey & density up to 3.2 FSR. Beautiful city views on higher floors as it sits on elevated land. Ability to build without purchasing any adjacent property unlike other properties within the area. No costly residential rental relocation concerns as required by City of Vancouver as this property is commercial & not residential. Moreover, current commercial tenant (medical) is flexible in vacating immediately or may sign a short-term triple net lease while developer is getting permits reducing holding costs. This property may qualify with the CMHC Rental Construction Financing criteria for "low cost" Rental building construction funding. Please confirm with the City of Vancouver regarding all allowable redevelopment potentials and CMHC about the "low cost" Rental Construction Financing.