Baker Street Lot# 1 & 6

Description

A rare opportunity to acquire the last large-scale mixed-use development site in Nelson's downtown core. The Railtown Development Lands comprise approximately 4.55 acres with flexible C4 zoning (Mixed-Use Core), permitting a broad mix of residential, commercial, retail, office and hospitality uses with building heights of up to 20 metres or 6 storeys. Positioned at the west end of Baker Street, the property offers the opportunity to extend Nelson's vibrant Baker Street into the city's emerging Railtown District. Preliminary development concepts contemplate up to +300,000 SF of buildable density, including a grocery store, hotel, apartment rental/condo units, and +30,000 SF of complementary commercial space. Nelson continues to experience a thriving tourism economy with strong hotel occupancy rates and ADR's, exceptionally strong grocery sales, minimal commercial vacancy with strong rent growth, and near-zero residential rental vacancy - a marked outlier in the current Canadian context. Surrounded by established businesses, restaurants and amenities, this is a community-defining development opportunity in one of British Columbia's fastest-growing regional markets. Flexible seller financing or potential partnership opportunities may be available for qualified parties. Download the brochure at the link below for more information. (id:63159)

Property Details

Annual property tax

$28,203.79

Brokerage

Royal LePage Kelowna

Location Insights

Population

11,106

(2021 Census)

+5.1% since 2016

Density

930.9/km²

Dwellings

5,314

Median household income

$72,500

After-tax

$65,500

Immigrant population

15.1%

Top countries of origin

• United States of America3.5% · 390
• United Kingdom3.3% · 365
• Philippines0.8% · 85
• Germany0.6% · 65
• Italy0.6% · 65
• India0.5% · 55
• Netherlands0.4% · 40
• South Africa, Republic of0.3% · 35

Source: Statistics Canada, 2021 Census of Population.

Weather

22°C

—

Humidity 58%

Wind NNE 7 km/h

Today

26°

Tonight

11°

Thursday

23°

Thursday night

8°

Friday

22°

Friday night

10°

Source: Environment and Climate Change Canada.