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    4 Acre Development Site - Fernie, BC

    Kootenays Listing No. 20084

    4 acre multi-family development site in the City of Fernie. Zoned R-4 (High Density Residential). Property was approved for 120 apartment units or 55 townhomes. Desirable location with gorgeous views of Fernie Alpine Resort & walking distance to downtown. Services at lot line.


    Price
    Reduced $950,000

    Size
    4 acres

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    Description

    High Density Residential Development land in the City of Fernie. Property has sewer, water, power, phone, and gas at lot line. Zoned R4. Views of Fernie Alpine Resort, close to golf course and walking distance to Fernie’s historic and vibrant downtown.

    The original developer had planned to build a 120 unit apartment project which was delayed and then the plan was amended to a 55 unit luxury town home project. The financial crisis arrived and plans went array. The land is now owned by the lender who is motivated to sell. Current asking price is well below the purchase price in 2005 ($1.8 million).

    It is the responsibility of the Buyer to determine the “highest and best use” and make any application for development approval with the City of Fernie. Details on the zoning and density are below, but all serious buyers are advised to speak directly to the City of Fernie. Zoning allows a high density development at 30 units/acre, which equals 120 units.

    Location

    85 Cokato Road - Fernie, BC

    Driving Times
    • Walking distance to downtown
    • Under 10 mins drive to the Fernie Alpine Resorts
    • Less than 1 hour from Cranbrook International Airport
    • 3.5 hours from Calgary

    Area Data

    Fernie

    The beautiful Elk Valley is the "Gateway" to southeast British Columbia and at its heart is the mountain community of Fernie, BC. Fernie is steeped in a history rich in Native legends and coal mining; more recently Fernie's has become a vibrant mountain community known for its year-round recreation and favorable lifestyle for professionals and young families. Fernie's spectacular mountain setting, nestled in the majestic Rocky Mountains offers unique opportunities for visitors, those interested in relocating, and business investors, offering a host of year-round adventures, a beautiful historic downtown, and unparalleled access to nature. Outdoor recreation is just steps away—there’s outstanding chairlift accessed mountain biking at the Fernie Alpine Resort. And, on the Elk River, you can enjoy everything from a leisurely float to some serious whitewater and arguably the best Westslope Cutthroat fly fishing in the world.

    Fernie is growing at an impressive rate and offers incredible activities and experiences that clearly set Fernie in a class of its own. Much of the growth is a direct result of the region's increasing popularity as a recreational destination. Marketing efforts are increasing the numbers of visitors to Fernie, and once here, people are realizing the desirable amenities and lifestyle and are investing in the community, either as a recreational property owner or as a new resident. This growth initially sets the stage for business opportunities in the tourism industry, but the potential is much greater.

    Fernie’s inventory of Victorian architecture owes its existence to a disastrous fire that, in the summer of 1908, devastated the town centre. Determined that this would never happen again, city council passed an ordinance that required downtown buildings to be reconstructed from fireproof materials. Almost a century later, their wisdom is expressed in the well-preserved, brick and stone buildings that characterize this friendly town. A self guided tour includes the elegant 1911 Fernie Courthouse with its slate roof and copper trim. While you’re in town, check out the Fernie Museum and the Arts Station, formerly the CPR station, which hosts concerts, art exhibitions, workshops and community events.

    Recreation

    Area recreation offers: mountain biking, paddling, whitewater rafting, hiking, camping, swimming, spelunking, fishing, hunting, skiing, golfing, hot springs bathing, and much much more.

    Boundaries

    Please see maps and plans included - all boundaries are approximate.

    Map Reference

    49°29'25.54"N and 115° 4'1.00"W

    Services

    Cable, electricity, natural gas, sanitary sewer, storm sewer, telephone and city water are at lot line.

    Tax Details

    $4,900

    Zoning

    R4 Multi-family Residential (High Density)

    Purpose
    The purpose of the R4 zone is to provide for higher density, larger structures in the form of apartments and stacked townhouse dwelling units.

    Permitted Uses
    The following uses, and no other, are permitted in the R4 zone:

    • multifamily dwellings
    • rest homes
    • uses permitted under Accessory uses

    Accessory Uses
    The following Accessory uses are permitted in conjunction with one of the above:

    • home occupation
    • other uses, buildings and structures accessory to a permitted use

    Regulations
    On a parcel located in an area designated as R4, no building or structure shall be constructed, located or altered and no plan of subdivision approved which contravenes the regulations set out below:

    • Minimum Parcel Area - 1,115 m2 (12,000 ft2)
    • Minimum Frontage - 20 m (65.6 ft)
    • Minimum Setback
      • Principal Building front yard 7.5 m (24.6 ft), rear yard 9 m (29.5 ft), side yard 4.5 m (14.8 ft)
      • Accessory Building front yard 7.5 m (24.6 ft), rear yard 2.1 m (6.9 ft), rear yard adjacent to a highway right-of-way other than a lane 4.5 m (14.8 ft), side yard 2.0 m (6.6 ft), side yard where adjacent to a highway rightof-way other than a lane 4.5 m (14.8 ft)
      • All structures 22 m (72.2 ft) from the centre line of Highway 3
    • Maximum Parcel Coverage 40%
    • Maximum Density 74 dwelling units per gross hectare (30 dwelling units per gross acre)
    • Maximum Building Height Principal Building 12 m (39.4 ft.) Accessory Building 5 m (16.4 ft)
    • Minimum Amenity Space per dwelling unit 4.5 m2 (48 ft2) in either a balcony, terrace or patio
    • Special Regulations
      • In buildings containing more than 10 dwelling units, indoor amenity space in the amount of not less than 1.4 m2 (15 ft2) per dwelling unit shall be provided
      • All development and redevelopment shall be guided by the regulations of the multi-family development permit area and a development permit shall be required
      • Decks and balconies may encroach into the rear and front yards, and on corner lots, into the side yard, providing that they do not interfere with pedestrian traffic on a sidewalk and do not block sight distance for traffic turning movements

    Legal

    Lot A, District Lot 4589, Kootenay District, Plan NEP60850
    PID 023-992-981

    Maps & Plans

    Map01

    Maps & Plans

    Our property descriptions and geographical information are taken from the BC Assessment Authority, Land Titles Office, government maps and other sources. While LandQuest® does not guarantee the information, we believe it to be accurate, but should not be relied upon without verification. This communication is not intended to cause or induce breach of an existing agency agreement.

    Location