Devencore Realty Victoria Ltd. is pleased to present an opportunity to acquire a mixed-use development site comprised of an estimated 1.45 acres (63,162 sf). The subject property is conveniently located steps from Colwood Corners and the City’s downtown core on the west side of the Island Highway 1 (A), accessed off Wilfert Road. Wilfert Road has yet to be extended to the Property, but a "Preliminary Layout Assessment “ has been issued by Colwood.
The Property is currently zoned CS2, Highway Commercial Zone, which permits a wide variety of uses. Current lot coverage allows for a maximum of 50% with a floor area ratio of 1.0 to 1.0. The site is designated as a Riparian Area and Mixed Use Employment Centre within the recently adopted Colwood Official Community Plan (2018).
Mixed Use Employment Centre is envisioned to be within an area that provides significant employment opportunities including commercial, accommodation, institutional, and low-impact light industrial uses, all of which can be integrated with multi-unit residential (mixed use). There is support for buildings up to 6 storeys. There is no FSR target, but the City Centre target is 4.5 (max) and the Transit Growth Area target is 2.5 (max). Given that the Mixed Use Employment Centre is meant to be higher density than the Transit Growth Area but lower density than the City Centre, one would assume that achievable density should be between the two.
For more information please contact: