A rare and exciting development opportunity in a prime location! This lot offers incredible potential with zoning recently upgraded from RM1 (Row Housing Residential) to MUM (Multi-Unit: Medium Scale), allowing for greater density and up to 15 meters in height. Previously, preliminary plans were in place for a 3-storey, 6-unit row townhouse project, each offering 2,200 square feet, including a garage. With the new zoning, a condo building with ground-floor parking could now be considered, offering even more possibilities for future development. The Development Permit (DP) and Development Variance Permit (DVP) have expired, so a buyer will need to conduct due diligence with the City of Vernon to develop their own concept, but this is a fantastic investment opportunity with immense potential. Don’t miss out on the chance to develop in this rapidly evolving area. (Photos of the original townhouse concept provided for reference.) (id:2493)
Data was last updated April 21, 2025 at 01:52 PM (UTC)
Area Statistics
Listings on market:
22
Avg list price:
$561,950
Min list price:
$1,650
Max list price:
$10,800,000
Avg days on market:
26
Min days on market:
5
Max days on market:
283
These statistics are generated based on the current listing's property type
and located in
City of Vernon. Average values are
derived using median calculations.