7221 Peden Lane Central Saanich, British Columbia V8M 1C5

$995,000

Rare Waterfront Village Development Opportunity – Brentwood Bay A truly rare chance to secure an almost waterfront development site in the heart of Brentwood Bay’s seaside village. This C-3 zoned lot offers unobstructed ocean views, full servicing, and an immediate path to development in one of Vancouver Island’s most desirable coastal communities. With an existing 0.6 FAR and 3-storey allowance, the site provides up to 4,400 sq. ft. buildable. Current concept plans include two luxury 3-bedroom + den residences (1,740 sq. ft. each) with panoramic ocean views, paired with two 420 sq. ft. commercial/office units at street level. Each side offers private parking, gated entry, and design harmony with the landmark Brentwood Bay Lodge & Spa just steps away. The location is unmatched—across from marinas, cafés, restaurants, and the Mill Bay Ferry, with the 5-star Brentwood Bay Resort at your doorstep. Positive community engagement letters support the live-work concept, with the required 10% commercial space already incorporated. This is an infill opportunity with resale values projected at $1,000+ per sq. ft., offering strong upside for both developers and long-term investors. Buyer to verify zoning, OCP, and all development details with the District of Central Saanich. (id:61048)

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https://www.realtor.ca/real-estate/28822856/7221-peden-lane-central-saanich-brentwood-bay