Metropolitan Victoria's largest master-planned real-estate development opportunity is on the market for a cool $29,500,000.

Just days from the start of its marketing campaign the 51.56-acre Langford Ridge property, situated between Goldstream Avenue, Leigh Road and the Trans Canada Highway overlooking Langford Lake, has already attracted nationwide attention from developers, according to listing agent Ross Marshall of CBRE Victoria.

"We just listed the property and we've had an immediate response from across the country," Marshall said, speaking to the unique aspects of the site and its future role in a growing Langford.

Although the location of the property may not appear exceptionally noteworthy it happens to be at the nexus of future infrastructure expansion integral to the movement of goods and people throughout the Westshore, a strategic opportunity for businesses and a benefit to residents.

"What most people may not realize is that the Langford Ridge area of Langford will be the new entrance to Langford-proper and eventually connect to Sooke Road," Marshall says, adding that Leigh Road is destined as an "extraordinarily high-traffic artery" when it connects with Langford Parkway and the upcoming Westshore Parkway.

Strategic location translates to density. With zoning secured for over a million square feet of residential and commercial space the form of Langford Ridge is likely to represent a stark departure from the area's dominant development style of low-density single-family-dwellings.

"The site is currently zoned for 1.3 million square feet of residential and commercial use and Langford may allow a developer to build even more density, so what we're likely to see here are high-density apartment buildings overlooking Langford Lake with views of the ocean and the Olympic Mountains. Then on the highway side you have excellent highway frontage opportunities for commercial tenancies that this kind of exposure lends itself to," Marshall said.

Pending a successful sale construction activity on the site could begin by the end of the decade. The first sign of progress, however, is expected to be a temporary quarry operation in preparation for development. C

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