Perhaps a sign of the times, a home for sale in Squamish recently reduced its price by over $100,000 compared to just a few months ago. The property is being dubbed as an “incredible development opportunity” by the listing.
In late October, the Fourth Avenue home was listed for sale at $5,114,000. Now it is listed at $4,995,000, a $119,000 decrease in price. Taxes on the property from 2021 to 2022 increased from $7,281 to $8,044.
Just as it was in October, the property must be purchased in conjunction with the neighbouring property, making the overall total $7,745,000. Purchasing both would net just over 16,000 square feet of lot space.
The listing price is $523,000 less than the 2023 BC Assessment for the properties, which is $8,268,000. But that price mark was over double the amount for the 2022 assessment: $3,921,000.
“Incredible development opportunity to purchase two lots with a total of 16,231 square feet and benefit from the two ‘income producing’ properties while deciding when to commence construction,” reads the listing.
The listing goes on to say the property is currently zoned as Downtown Commercial Centre, which allows for many uses including an apartment complex, professional office building, restaurant, school, liquor establishment, child care facility and more.
It's zoning currently allows a floor area ratio of 3.0, meaning higher density allowances from the Official Community Plan (OCP) from the District of Squamish.
The two buildings on the lot currently have a combined 13 bedrooms and 10 bathrooms with over 10,500 square feet of space.
Editor's note: This is a purely editorial story. We just thought it would be of interest to readers. No benefit came to the writer or The Squamish Chief for the writing of this piece.
