Time effects.This is a listing from the most active development land agent in the area.
What is clear is time is money.
If you have land in the first development areas, it is trading for close to 1.5 to 2 million an acre.
3 years out, 1 to 1.3 million
If you are in a farther out phase less.
This package is expected to be 8 to 9 years out and they are asking 450,000 per usable acre.
Agent states comparables are 800k an acre.
Address: 31390 Olson Ave, (Silverdale) Mission, BC
Site Area: 12.17 Acres
Price: $2,799,000
Terms: 6 month completion with deposit direct to seller
Opportunity:
- One of the last non Polygon owned properties in Silverdale's Central Neighbourhood.
- Property offers some of Mission's most incredible views.
- Polygon has started civil construction in the Central Neighbourhood, with water, storm and sewer expected at the corner of Gunn & Loftus by the end of 2026, development of this site is likely 7-9 years away.
- Draft layout demonstrates 21 compact lots, 19 rowhomes & 8 townhomes.
- Property has been cleared and is ideal as a holding property or build site as you wait for development.
- With roughly 7-8 acres of usable land, this site is selling at roughly $400,000 per acre vs. the comparable sales of over $800,000 per acre.
- Polygon owns 1,600 acres in Silverdale, Mission's Master Planned Community that will eventually be home to 40,000 residents.