1544 Christmas Avenue

FOR SALE BY COURT ORDER

The subject site is well located just off the intersection of Cedar Hill Cross Road and Shelbourne Street. The area is within walking distance to a diverse mix of commercial amenities at the corner of Cedar Hill Cross Road and Shelbourne Street, as well as McKenzie St and Shelbourne St. The residential makeup in the area is predominantly single-family dwellings balanced with medium-density apartment and condominium units in the immediate area and along arterial corridors. This area is popular with renters as it benefits from the favourable bus routes directly to the University of Victoria along McKenzie and Cedar Hill Cross. Its central suburban location makes for an easy commute to Victoria’s downtown core, the Saanich Peninsula, and the Westshore.

Development Opportunity

The Subject property is identified in a Primary Growth Area (Village) and is surrounded by recently approved and legacy multifamily properties. Saanich’s current OCP speaks to mid-rise buildings of up to 4-storeys in this location. There is a lapsed development permit application (approved) for a 4-storey, 24-unit building, which equates to a 1.74:1 FAR. 

Highlights

• Generally level site
• Desirable central location
• Close proximity to amenities
• Fronting a quiet local street with good access
• Favourable Official Community Plan designation supporting multifamily development density
• Desirable condominium or purpose-built rental location

$1,650,000