A high-rise development opportunity in downtown Kelowna has sold for $9.4 million, HM Commercial reports.
The site is a 1.5-acre assembly of six properties spanning an entire city block, just a five minutes walk from Lake Okanagan. The high-density site has potential for a 26-storey high-rise development. The subject property is one of the best remaining high-density sites in the downtown core. The site currently houses two retail buildings.
The property is located at 560 Bernard Ave., Kelowna.
Breakdown:
Price: $9,400,000
Lot Size: 1.5 acres
Property Type: Retail
Zoning: C7/C4
2016 B.C. Assessment Value: $3,021,000
City: Kelowna
Province: B.C.
Name of Brokerage: HM Commercial Group – Macdonald Realty Kelowna
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