Kelowna Springs Golf Course, has been sold to Vancouver-based real estate development company Denciti Development Corp.
Financial details were not released, but the 106.4-acre property at 480 Penno Road, Kelowna, B.C., has a land value of $4.35 million, according to BC Assessments.
In August of 2022, Robert Miles, long range policy planning manager for Kelowna, confirmed the city-owned golf course was marked for conversion to industrial use.
“A significant increase in industrial development, such as storage, distribution and warehousing space is expected over the next 20 years,” Miles told Glacier Media at the time.
Redevelopment of the property will generate an estimated 104 new jobs and approximately $1.17 million in annual tax revenue for the city, according to Denciti. . The site is five minutes south of the Kelowna airport, close to Highway 97 and other industrial activity.
“We have a long history in Kelowna and the Central Okanagan and we understand the significance of this property in its size and location,” said Garry Fawley, CEO of Denciti Development Corp. and a 45-year veteran of the real estate industry. “Any decisions for the best use of this site will be based on extensive research and planning in consultation with the community. We are committed to working and growing with Kelowna for the long term.”
Denciti is exploring a variety of options which may include retention and possible enhancement of a portion of the property for recreational use.
When Denciti placed the property under contract for purchase in August 2022, a motion to reverse the industrial designation of the property was voted down by city council. Denciti then moved forward with the purchase.
"We are working alongside stakeholders to find a collaborative solution for the future of this property,” says Fawley. “We are ready to roll up our sleeves and work together to get this right for the people of Kelowna. We want to create a win-win situation for the entire community.”
The golf course will stay operational until the end of the 2023 season.
