DEVELOPMENT OPPORTUNITY!  This property situated in a walkable community near shopping, banking, amenities, schools and public transportation offers the opportunity for redevelopment/rezoning to higher density to accommodate townhomes or mixed use development up to 4 stories with an FAR of 1.75 equating to a permitted development of approximately 11,970sqft subject to application and approval from the municipality. The Official Community Plan provides for ''Neighbourhood Centre'' permitting the following uses - Multi-unit residential, mixed-use, Commercial, Institutional, Live/work, home occupation and customer service oriented industrial uses. Buyers must complete their due diligence with Colwood municipality to ensure the buyers may utilise the property for their intended use. The 2 bedroom mobile home on the property provides $1800 per month revenue while you plan your development. (id:54626)

592 Heatherly Rd