205 Loomis Hill RoadWaterbury, VT 05677Price: $260,000

Unlock the potential of this unique 1.46-acre property offering a rare blend of development opportunity and natural beauty. The existing 2-bedroom, 1-bath home requires significant rehabilitation or possible tear-down, making this an ideal project for builder-investors or those looking to create a custom residence with multifamily and/or commercial potential. Rich in history, the property was formerly owned by Ned Davis, the first and only Vermont florist to be accredited by the American Institute of Floral Designers-the industry's most prestigious organization with approximately 1,100 members worldwide-and recognized as a Certified Floral Designer. Also located on the property is the former Vermont Academy of Floral Design School, which, while in need of repair, presents incredible potential for redevelopment. Zoned to allow one single-family primary residence along with multifamily use, this property offers flexibility for future plans. With appropriate conditional use approval, the former school building could be converted into a multifamily property, such as two or three apartments. A buyer may also choose to remove the existing home and construct a new primary residence, while repurposing the additional structure or exploring the potential for an accessory dwelling unit. Land coverage is limited to 20%, with no restriction on bedroom count. Beyond its development appeal, the land itself is truly special. In the spring and summer months, it transforms into a storybook setting with a pond filled with lily pads, surrounded by lush gardens featuring hydrangeas, irises, lupines, and crocosmia (AKA Lucifer). A weeping larch tree, creeping myrtle-lined woodland path, and views of Camel's Hump complete this magical oasis. A compelling opportunity for those seeking a project with both vision and value