HM Commercial Group is pleased to present this valuable opportunity for a shovel ready development parcel on First Nations land in West Kelowna.
This site on Nancee Way offers 0.896 acres of prime developable land, just over the bridge and only a quick 5 minute drive from Downtown Kelowna. The lot offers close access, high visibility and exposure to Highway 97, which sees strong traffic counts. Located directly across from Okanagan Lake Shopping Centre, offering walking distance to many retail options including a gas station, Shopper’s Drug Mart, dollar store, movie theatre, bowling alley, several restaurants and bars, liquor store, and more.
The site is currently split zoned Highway Commercial, Retail Commercial & sliver of Mobile Home Park, and the WFN has expressed support of rezoning to only one zone. The WFN is also open to discussing rezoning and bylaw variance options to allow for other development types. The parcel would be well suited for apartment housing, office building, hotel, or a mixed use building with commercial and residential components. The Retail Commercial zoning may present the highest and best use because it maximizes density and can support up to 39,101 SF with an FAR of 1.0, and up to 4 storeys of height.
This is a flat corner site, making it easy to build on. The property is surrounded with residential neighborhoods and some commercial developments. The location provides views of mountains and trees, with potential for lake views from higher floors. The property is currently unserviced, but will be serviced to the lot line at the time of sale.
- 0.896 acres development land, supporting a building up to 39,101 SF. Flat site, and easy to build on.
- Prime location in West Kelowna with fantastic Highway 97 exposure and traffic counts. Very close to highway with easy access.
- Only 5 minutes from Downtown Kelowna and walking distance to Okanagan Lake Shopping Centre.
- 125 year non-cancellable headlease, which will not expire until March 14, 2143.
- Currently zoned Highway Commercial, Retail Commercial & Mobile Home Park, allowing for a multitude of development options.