Kelowna development land sold for $1.9M
The site is zoned for high-rise, mixed-use development with potential for a 26-storey project
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A Kelowna development site has sold for $1.9 million, NAI Commercial Okanagan tells Western Investor.
The 12,360-square-foot corner lot in downtown Kelowna is zoned for highrise, mixed-use development. The site comprises a single contiguous parcel with Central Business Commercial zoning currently allowing building heights up to 26 storeys with a maximum overall floor area ratio of 9.00. The value of the property is in the land but the current improvements offer stable holding income given location and onsite parking.
The property is located at 1660 Water St., Kelowna.
Lot Size: 12,360 SF
Property Type: Land
2017 B.C. Assessment Value: $1,842,000
Date of Sale: 02/23/2018
Name of Brokerage: NAI Commercial Okanagan
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