FUTURE DEVELOPMENT OPPORTUNITY. Once in a lifetime chance to purchase 5.2 Acres of undeveloped land in the Cypress West, Upper Lands study area. Current zoning calls for RS1 single family dwellings but with the upper lands currently in phase 3 of the study the density from Eagleridge will be shifted to neighbourhoods like Cypress West where this land sits. The plan from West Vancouver District is to enhance outstanding recreation opportunities, and create compact, sustainable neighbourhoods in this area. The OCP also discusses concentrating development in these areas into higher density, mixed-use urban neighbourhoods.
This is one of the last privately held parcels of residential land in the Cypress West Planning area. Neighbouring your land, the local prominent developer British Pacific Properties owns many acres of land which will be developed in the next 25 years in both the Lower Cypress Bowl area and also in the section of land where the subject property sits called Cypress West. Currently there is no public road access to the property. One of the primary decisions to put this property in the path of progression will be the district opening the gates to proceed with the connection from Northwoods drive (currently a walking trail) and also the development of Eagle Lake Rd (Currently a Gravel walking road) which will connect to the Lower Cypress Bowl area according to preliminary district planning. Once the phase 3 study comes out which is supposed to be imminent we will be able to provide more information on the future timeline of when development of the 5 acre parcel will be possible. Currently we are asking investors to look at this opportunity as part of their passive investment strategy in the form of LAND BANKING with the anticipation to take advantage of the District of West Vancouver’s zoning and bylaw changes which will enable the development of this parcel and add a ton of value to this property in the future whether it be to re sell the land or develop it in the future. There will certainly be some huge upside in due time but the timeline and process is a bit of an unknown at this point in time. Currently the land is zoned for single family zoning but we are optimistic given the desire for compact neighbourhoods in the region that this parcel will benefit from a higher use designation once the zoning and bylaws change which should come in the next year or two.
Below are some websites where you can find some general information on the property and future development plans for the area: