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Multi-Family

2644 Adelaide Street

2644 Adelaide St, Abbotsford, BC V2T 3M2

Listing Price: $3,100,000

Lot Size
0.35 acres
Price/Acre
$8,977,264
Land Type
Redevelopment

Investment Overview

Marcus & Millichap REIS Canada Inc. has been engaged on an exclusive basis by the vendor to facilitate the sale of 2644 Adelaide Street, Abbotsford, B.C. (the “Subject Site”). The Subject Site presents a unique opportunity to acquire a mid-high density multifamily development site, situated in the rapidly evolving and densifying Abbotsford City Centre. The Subject Site is zoned for C-5, which would allow prospective purchasers to develop a mixeduse project of up to 2.75x FSR. Alternatively, the property also possesses the land use designation of City Centre Residential under the 2019 City Centre Neighbourhood Plan which would allow prospective purchasers to develop a purely residential development with a base density of 2.5x FSR with the potential to increase this by an additional 2.5x FSR bonus density. The Subject Site offers a rare opportunity to develop in-demand multifamily product in a rapidly growing and evolving city

Investment Highlights

  • Mid-high density multifamily development site, situated in the rapidly evolving and densifying Abbotsford City Centre.
  • Opportunity to assemble with the offering next door (32390 South Fraser Way & 32346 South Fraser Way) for a larger development project.
  • The Subject Site fall within the City Centre Neighbourhood Plan which permits a base FSR of 2.5x with potential to achieve bonus density of 2.5x for residential development.

Exclusively Listed By

Multi-Family

2644 Adelaide Street

Listing Price: $3,100,000

Lot Size
0.35 acres
Price/Acre
$8,977,264
Land Type
Redevelopment

Investment Highlights

  • Mid-high density multifamily development site, situated in the rapidly evolving and densifying Abbotsford City Centre.
  • Opportunity to assemble with the offering next door (32390 South Fraser Way & 32346 South Fraser Way) for a larger development project.
  • The Subject Site fall within the City Centre Neighbourhood Plan which permits a base FSR of 2.5x with potential to achieve bonus density of 2.5x for residential development.

Investment Overview

Marcus & Millichap REIS Canada Inc. has been engaged on an exclusive basis by the vendor to facilitate the sale of 2644 Adelaide Street, Abbotsford, B.C. (the “Subject Site”). The Subject Site presents a unique opportunity to acquire a mid-high density multifamily development site, situated in the rapidly evolving and densifying Abbotsford City Centre. The Subject Site is zoned for C-5, which would allow prospective purchasers to develop a mixeduse project of up to 2.75x FSR. Alternatively, the property also possesses the land use designation of City Centre Residential under the 2019 City Centre Neighbourhood Plan which would allow prospective purchasers to develop a purely residential development with a base density of 2.5x FSR with the potential to increase this by an additional 2.5x FSR bonus density. The Subject Site offers a rare opportunity to develop in-demand multifamily product in a rapidly growing and evolving city

Exclusively Listed By

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