Attention DEVELOPERS!! Very rare opportunity to purchase 2.01 acres of ideally located re-development land. Current use is a near 100% rented 87 unit apartment building built in 1977 with a site coverage ratio of 26%. The apartment consists of 11 one bed, 6 studio, 3 three bed, 1 two bed + Den and 66 two bed units. The subject property is designated as part of a Neighborhood Centre under Saanich’s OCP 2008, Appendix to Bylaw 8940. The District of Saanich OCP supports the following building types and land uses in Major and Neighborhood “Centers”: Townhouse (up to 3 storeys), Low-rise residential (up to 4 storeys), Mid-rise residential (up to 8 storeys), Live/work studios & Office (up to 8 storeys), Civic and institutional (generally up to 8 storeys) and Commercial and Mixed-Use (generally up to 8 storeys). Buyer to verify the potential land use with Saanich prior to writing an offer. Financials provided as a condition of an accepted offer.