1940 Underhill Street, Kelowna, BC - Development Land Across from Orchard Park

Development Land Across from Orchard Park

1940 Underhill Street, Kelowna, BC, V1X 5X7

Price:
$8,550,000

Property Description

HM Commercial Group is pleased to present this opportunity for approximately 1.4 acres of development land at 1940 Underhill Road, Kelowna, BC.

There are four (4) different conceptual plans for this portion of the property with options for 1 and 2 tower assemblies and range from 235,000 to 251,000 sq.ft of gross building area.

The South end of the property has a pending application for rezoning to C4 Urban Centre Commercial with a DP for +/- 300 rental apartment units (wood frame) over a concrete parking structure.

This parcel shares a cul de sac with the southerly parcel, with 80% of the cul de sac on the neighbouring property.

An extremely low water table provides favourable geotechnical conditions which could save the Buyer more than $3.2 Million ($50.00 per land square foot) in preparation-costs over comparably-sized locations in the downtown core.

The Property is appealing not only for its proximity to major retailers like Orchard Park Shopping Centre, Superstore, Keg Steakhouse, Kelowna Farmer’s Market, but is on a transit route with easy access to the Downtown, UBC-Okanagan and Kelowna International Airport. It’s also a 3-minute walk to Mission Creek Greenway that connects to Lake Okanagan and Gallagher’s Canyon Recreation Area.

1940 Underhill Street, Kelowna, BC, Canada

Additional Information

Municipal Address 1940 Underhill Street, Kelowna, BC, V1X 5X7
Legal Description LOT B DISTRICT LOTS 4646 AND 127 OSOYOOS DIVISION YALE DISTRICT PLAN EPP104418
PID 031-186-327
Location Details The subject property is in a prime location directly across from Orchard Park Shopping Centre and during the summer months will be neighboring Kelowna largest farmer’s market. In close proximity to grocery stores, transit, health services and a variety of other amenities.
Land Area 1.4 acres
Zoning C4, Urban Centre Commercial

Listing Agents

Jeff Hudson PREC - Principal / Co-Founder at HM Commercial Group

Jeff Hudson

Marshall McAnerney PREC - Principal / Co-Founder at HM Commercial Group

Marshall McAnerney

Request More Info

If you would like more information about this listing or to request a viewing, please fill out the form below. You can also reach us at 250.712.3130 or by email info@hmcommercial.com.