A high-density, mixed-use development site in the heart of downtown Kelowna has sold for $9.2 million, HM Commercial tells Western Investor.
The 2.84-acre parcel is pre-loaded for a 20-storey residential and commercial tower. Previously, a mixed-use development anchored on an international-branded hotel was approved for the site. The site has potential to be rezoned for C7, with a floor area ratio of up to 9.0. The property has a price per buildable square foot of less than $40. The site is located next to the Delta Grand hotel, Lake Okanagan and across form the 6,500-seat Prospera Place Arena
The property is located at 1187 Sunset Dr., Kelowna.
Breakdown:
Price: $9,200,000
Lot Size: 2.84 acres
Property Type: Land
Zoning: C4
2017 B.C. Assessment Value: $9,872,000
City: Kelowna
Province: B.C.
Name of Brokerage: HM Commercial
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