A compelling redevelopment opportunity meets immediate livability on a 55' x 100' R-CG lot in coveted Kingsland, with an approved development permit for 3 units plus 3 basement suites designed by Davignon Martin and planned with CMHC MLI Select financing in mind. Until future plans take shape, this beautifully renovated mid-century modern bungalow delivers character, flexibility and the added benefit of an illegal basement suite. Tucked onto a quiet cul-de-sac with no through roads, the setting balances a peaceful residential feel with outstanding access to shopping, transit, schools and major routes. Inside, refinished hardwood floors bring warmth to the main level, where oversized windows fill the inviting living area with natural light and an adjacent dining space accommodates everyday meals or larger gatherings. Cooking is bright and functional in the white kitchen, appointed with stainless steel appliances including a brand-new stove and microwave hood fan, timeless subway tile and a pantry for valuable extra storage. Three bedrooms give families, roommates or home-office needs plenty of flexibility, while a stylishly updated 4-piece bathroom completes this level. Downstairs, a separate entrance leads to the illegal suite, where an open floor plan and luxury vinyl plank flooring shape a comfortable second living environment. Stretch out in the generous recreation area, then move into a full kitchen equipped with a peninsula island, gas stove and enough space to add a dining table. One bedroom and a 3-piece bathroom round out the lower level, adding versatility for extended family or future possibilities. Outside, the oversized lot translates into an exceptionally spacious backyard framed by mature trees, with plenty of grass for kids and pets to play. Summer evenings can unfold around the firepit, while the patio sets the stage for barbecues, outdoor meals and laid-back weekends. An oversized double detached garage handles vehicles and storage, complemented by an additional parking pad at the front. Adding even more appeal to this location, nearby Kingsland Park has a preferred redevelopment concept incorporating an artificial turf field, play and recreation areas, pathways, seating and gathering spaces. Everyday errands and entertainment are also within easy reach, with Chinook Centre nearby, convenient access to Macleod Trail and Glenmore Trail, transit connections and schools within walking distance. Whether the goal is to move in or pursue the already-approved redevelopment plans, this property brings together multiple possibilities in an established inner-city community.