This will be a new iconic building in Downtown Nanaimo by the water! The DT5 zoning allows various developments, including hotel, condo, and mixed commercial and residential use. The floor area ratio is 3.3, the lot coverage ratio is 100%, and the maximum height allowed is 19.8m. No parking required for a hotel building at this location. The city has indicated the potential to increase density and height. A plan for a proposed 89 room hotel was approved for building permit, and many other options are waiting. The Seller is open for a joint venture with a qualified buyer.