501 Prideaux St Nanaimo, British Columbia V9R 2N8

$1,324,900

DEVELOPMENT PERMIT APPROVED! Site in Nanaimo's Old City Quarters for 24 Units. Offering immense potential for developers/investors. This sought-after location has received Development Permit approval in February 2023, putting it ready for the Building Permit stage. This saves time & resources, allowing construction to begin now. The property enjoys a central location, providing convenient access to local amenities, shops, restaurants, & the new fast passenger ferry from Downtown Nanaimo - Downtown Vancouver in 70 minutes! With a mix of 1 bed, 1 bed+den, and 2-bed suites, this building caters to a range of housing needs. This development represents excellent value in 1 of the 5 fastest-growing cities in Canada, which is currently experiencing a major housing shortage. Be a part of the solution and benefit by getting into the market before it's too late. With a preferred completion date of early 2024, this opportunity won't last long. Don't miss out on this prime development opportunity. *Property Tax Exemption through City of Nanaimo* (id:52782)

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https://www.realtor.ca/real-estate/25877778/501-prideaux-st-nanaimo-old-city