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2999 Drinkwater Rd 0.7 Acres of Residential Land Offered at $3,000,000 CAD in North Cowichan, BC V9L 6C6
Investment Highlights
- Fully entitled 0.7-acre site zoned CD26 for a 6-storey apartment building.
- Prime location across from Cowichan Commons retail center, featuring major national retailers.
- Region experiencing economic and employment growth anchored by a $1.45 billion hospital project.
- Buildable density of 75,903 square feet at 2.5:1 FSR with rezoning conditions satisfied.
- Strong market demand with projected need for over 2,100 new housing units in five years.
- Immediate access to major services, retail, and arterial routes within the Cowichan Valley.
Executive Summary
Property Facts
| Price | $3,000,000 CAD | Property Subtype | Residential |
| Sale Type | Investment | Proposed Use | Apartment Units |
| No. Lots | 1 | Total Lot Size | 0.70 AC |
| Property Type | Land | ||
| Zoning | CD26 - Drinkwater Road Multi-Family Comprehensive Development Zone | ||
| Price | $3,000,000 CAD |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Apartment Units |
| Total Lot Size | 0.70 AC |
| Zoning | CD26 - Drinkwater Road Multi-Family Comprehensive Development Zone |
1 Lot Available
Lot
| Price | $3,000,000 CAD | Lot Size | 0.70 AC |
| Price Per AC | $4,285,714.29 CAD |
| Price | $3,000,000 CAD |
| Price Per AC | $4,285,714.29 CAD |
| Lot Size | 0.70 AC |
This fully entitled site is zoned CD26 for a 6-storey apartment building at 2.5:1 FSR (75,903 SF), with all rezoning conditions satisfied and registered on title, giving developers a remarkable head start.
Description
Situated on Drinkwater Road in Duncan, British Columbia, this land parcel is fully entitled for multi-family residential development. It measures approximately 0.7 acres and allows for a six-storey building based on current CD26 zoning. The property is adjacent to Cowichan Commons shopping center and positioned near regional transportation routes. Market data indicates low rental vacancy and anticipated residential demand growth due to demographic trends and infrastructure investments, including a major hospital project within the region.
Presented by
2999 Drinkwater Rd
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