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.