2977 Lowe Court Kelowna, British Columbia V1Y 8L3

$1,563,500

DEVELOPMENT OPPORTUNITY w/ LOADS of POTENTIAL! This property is part of the 6 lot GORDON Drive/LOWE Court LAND ASSEMBLY and must be purchased in conjunction with 2997 Lowe Crt, 2987 Lowe Crt, 2922 Gordon Dr, 2930 Gordon Dr and 3010 Gordon Dr. In a superb location (KEL SOUTH), the LAND ASSEMBLY is walking distance to transit, schools, beaches, restaurants, shopping, the hospital and more! Both the location & zoning offer a Developer a wide variety of opportunities: 1) 2040 OCP supports ED/INST zoning, allowing up to 6 storeys with a 2.0 FAR. Uses in this rare zone include: restaurants, medical/dental, therapy, counseling, private clubs, libraries, museums, art galleries, cinemas, fitness clubs, and religious assemblies. Properties currently zoned RU4 total 1.012 acres (44,082.72.sq ft). With a 2.0 FAR, there is potential for up to 88,165 buildable sq ft! 2) parcel fronts Gordon Drive TRANSIT SUPPORTIVE CORRIDOR and 3) several properties are within a 400m radius of OK College Bus Exchange, 1 of only 4 Kelowna TRANSIT ORIENTED AREAS under the NEW PROVINCIAL LEGISLATION. 4) Flat site, easy to build with exceptional exposure and access off of Lowe Crt. Buyers to do own due diligence on intended use, both municipally and provincially. Total Purchase Price $10,139,000. Estimated Total Revenue, adding owner occupied units: $283,200/year ($23,600/mo). (id:49542)

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https://www.realtor.ca/real-estate/26453668/2977-lowe-court-kelowna-kelowna-south