The sale has closed on a prime piece of Crofton property for $560,000 above the asking price.
The 2.47 acres where the old Crofton Elementary School was situated at 1658 Robert Street before being torn down was purchased for $1.81 million by a Vancouver agent representing an undisclosed buyer.
“We priced this site strategically with the expectation that there’d be a lot of interest both from local developers and the mainland,” said Kristie Haz, now with eXp Realty, who represented NAI Commercial CVI Ltd. at the time and co-listed it for the Cowichan Valley School District along with John Morris from Coldwell Banker. “We left the bidding open for just over a week and received multiple bids.”
The buyer is not yet making their intentions for the property known. But it’s expected to be rezoned and turned into a multi-family development of some kind for much-needed housing.
“The OCP supports low-medium density residential use for this parcel along with it being only blocks away from the beach, and having expansive views makes for a great future development site,” Haz indicated.
“The proceeds of the sale go into our general capital funds,” noted Mike Russell, communications manager for the school district.
Portion of the former Crofton Elementary School property looking toward the Crofton Community Centre. (Photo by Don Bodger)
