PROPERTY DESCRIPTION
Present improvements consists of a potential acquisition of 14 detached houses on large lots located on the south side of Lougheed Highway which is prime for a future redevelopment.
SITE SIZE
Currently there are 8 owners participating in the assembly for a total of 71,509 square feet (1.64 acre) and 54,085square feet (1.241 acre) of contiguous land for a viable development. There is future potential to acquire the total 14 properties combined equating to a potential 2.84 acre development site. The OCP (Official Community Plan) just one block east calls for a re-zoning to RM-2 which includes market condos and townhouses.
The proposed assembly will create a rectangular in shape site prime for development along Lougheed Highway.
ZONING
As density expands out from the City Center there is a trend for property owners to assemble their lands to obtain a highest and best use scenario . The current zoning, age of the dwellings combined with a location with nearby redevelopment there is an opportunity to apply for increase in density. This will need to be investigated by prospective Purchasers.
