A large parcel of land is for sale in Arrow Heights for $15.9 million.
The 65.23 acre listing by RE/MAX combines two separate titled parcels, located at 1775 and 1795 Nichol Road, across from the Mackenzie Village.
The property is beside a planned 18-hole golf course by Revelstoke Mountain Resort.
According to BC Assessment, the two parcels of land together were valued at $4.7 million for 2019.
The land is currently owned by Hyeum Properties Ltd, the company that tried to develop another parcel of land beside Williamson Lake into a campground. The proposal was rejected by city council in 2019.
Approximately 88 per cent of the land (1775 Nichol Road) for sale is zoned for CD-08, which allows hotels, apartment buildings, houses, cafes, grocery stores, restaurants, swimming pools, ice rinks and even ski lifts.
The remaining 12 per cent is zoned for single family dwellings, farming, airports, gun clubs and playgrounds.
The large wooded property is already riddled with walking trails from Williamson Lake.
There is a controversial large development proposed on Hay Rd near the listed property, which requires land to be rezoned. And across the road Phase 2 and 3 of Mackenzie Village received a development permit at the end of 2019. The project would see 120 residential units and 21 commercial units. The Mackenzie Village master plan includes 12 phases.
The 3.8 hectare property on Hay Rd. would see 27 single-family houses, 14 duplexes and 19 row houses, of which 50 per cent would be for long term rentals.
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