'Senior Living' development property opportunity! This rare offering includes 3 Titles, within the existing (approx. 22 acre) parent property know as Coldstream Meadows. Approx. 8.1 acres of the Land is vacant land, the rest is access & amenities. The zoning is RCD2 - in the desirable North Okanagan, Municipality of Coldstream, & is a site specific zoning that was created to accommodate a Senior's Campus of Care concept w/ Independent Living, Assisted Living, & future Complex Care facilities. This land is unique, mostly flat, & in a beautiful Rural setting, yet only minutes away from urban development. It is located in the ALR, (Agricultural Land Reserve) but due to its long history of institutional use, that pre-dates the ALR, it has received approval, in 2021 (ALC Resolution #371/2021) for a non-farm use, to build up to 463 residential units for seniors care and seniors housing. There are currently 75 (privately owned) residential 55+ strata units, that were built between 2009 and now (these are not for sale ), but the vacant land, & other amenities portions, are being sold by Court Ordered Sale. With zoning approval from Coldstream, a future expansion of up to 388 more residential seniors housing & senior care units, is possible, to bring the total residential units, as approved by the ALC decision, up to a maximum of 463 units. There is currently a great need for quality seniors care & housing, & the NEW Coldstream Meadows has the potential to provide that and more! (id:66096)
Property Details
MLS®
10396687
Property Type
Vacant Land
Half Baths
0
Lot Size
16 acres
Current Use
Development residential
Price per Acre
$383,707 per acre
Waterfront
Yes
Ownership
Freehold
Property Tax
$9,166/yr
Listed
91 days ago
Features
Lot Features
Treed, Irregular lot size
Services
Water
Municipal water
Utilities
Water, Electricity, Cable, Telephone
Features and services as supplied by the listing brokerage.
Market Timing
Days on market
91d
Coldstream listings, avg age
129d
List price
$6.50M
Long Listed: 91 days on market, against an average age of 129 days across the listings currently for sale in this city
Market timing · days on market0 → 129d avg age of current listings
Long Listed · day 91
Haho
This vacant land in Coldstream has been listed for 91 days, which is 38 days fresher than the city average of 129. Act while there is still low competition.
Approximate location — exact address confirmed upon showing
Nearby Places
$6,500,000
For sale
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