* PREC - Personal Real Estate Corporation. Looking for a development property within walking distance of downtown? This R5 - High-density Multi-family Residential-zoned property is flat, mostly cleared, and ready for your development ideas. This property already has city services - power, sewer and water at the lot line and is ready for your development. R5 zoning includes an apartment building or townhomes. See the City of Terrace Zoning Bylaws for more details on permitted uses. (id:5706)