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.
