1298 Nelson Street
Nanaimo, British Columbia
Building
Stats
- Property Type Land - Residential
- Size (Ac) 1.88
- Price $10,500,000 CAD
Overview
The Avison Young Multi-Family Team is pleased to offer for sale 1298 Nelson Street, a once-in-a-lifetime opportunity to develop 1.88 acres of land adjacent to Nanaimo Regional Hospital. This premier site features an irreplaceable location with frontage on Boundary Avenue, Strathmore Street and Nelson Street. A developer can build a mid-rise residential rental, strata and/or assisted living housing in a supply-constrained market that is rapidly growing.
Highlights
Population growth is up 10.3% over the last census survey
Return of students and increased migration grew rental demand faster than supply in 2021, leading to an overall average rent increase 7.7%
Labour force grew by 3.5% annually between 2017 and 2021
Population is estimated to grow from 99,863 persons (2021) to 111,689 persons (2026), representing a 11.8% increase
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