Rare zoning! Now under the new TCD-1 zoning, this site offers a rare chance to build 4-6 storeys with residential units above and commercial space on the ground level, making it an outstanding option for developers, long-term holders, or anyone seeking future mixed-use value in a prime S Jubilee location. The existing 2bd character home offers original hardwood floors, bright kitchen and unfinished lower level that provides immediate use as a residence or rental while you plan your next step. This zoning is truly unique for the area, opening the door to density in a walkable, amenity-rich neighbourhood steps to Oak Bay Ave, RJH, transit, groceries, cafés, and schools. Another potential path is subdivision: previous approval is now conditional on rezoning, and remains an option for buyers wishing to pursue. Building plans for a 2000sqft 4bd/4bth home are available. Whether you develop, hold, build, rent, or explore subdivision, this property delivers flexibility rarely seen in the city.