A well-positioned lakefront residential development investment opportunity is available for builders and developers seeking a manageable-scale project. This approximately 3/4-acre property fronts Diver Lake, featuring flexible COR2 zoning, which supports street-oriented, medium-density residential and mixed-use development along major corridors. The site previously held a Development Permit for approximately 16–20 residential units in a multi-storey building with underground parking. While a new Development Permit will be required, the prior approval demonstrates the site’s suitability for a purpose-built rental apartment or boutique condominium project at a manageable scale. With strong southern exposure, direct lake frontage, and proximity to schools, transit, and amenities, this property offers a compelling infill development opportunity within Nanaimo’s growing urban corridor—well suited to developers seeking an efficient project with long-term rental or sell-out potential. (id:45055)
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Property Details
MLS® Number 1024041 Property Type Vacant Land Neigbourhood Diver Lake Plan Epp69258 -
Building
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Land
Acreage No SizeIrregular 0.75 SizeTotal 0.75 Ac SizeTotalText 0.75 Ac ZoningDescription Cor2 ZoningType Unknown -
Rooms
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Utilities
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January 22 2026 11:05:01
Victoria Real Estate Board
