1575 Bernard Avenue, Kelowna, BC - Development Land in the Heart of Kelowna
Pending

Development Land in the Heart of Kelowna

1575 Bernard Avenue, Kelowna, BC, V1Y 6R8

Price:
$8,900,000

Property Description

HM Commercial Group is pleased to present this opportunity for 1.37 acres of developable land in the heart of Kelowna.

Because the Property is greater than 1,400 square metres and has lane access the City of Kelowna would consider an application for MF3 APARTMENT ZONING, which allows apartments up to 6 storeys in height, but consideration here would be for up to 4 storeys.

The Church, accessory building and portables measure +/- 14,000 sq.ft so there is potential for holding income until the property is ready for development.

                                                                   4 Storeys                           5 Storeys
Site Area (Acres)                                        1.37                                      1.37
Site Area (SF)                                            59,677                                 59,677
Maximum Base Density (MF3)            1.3 FAR                             1.75 FAR
Net Floor Area (Saleable SF)                 77,580                               104,435
Estimated Yield (700 SF Avg Size)      136 units                           175 units
List Price                                                 $8,900,000                    $8,900,000
With Max Bonus Density (MF3)           0.3 FAR                            0.3 FAR
Total Net Floor Area Incl. Bonus            95,484                             122,338
Total Price:                                              $8,978,501                       $8,978,501
Price/Saleable SF                                      $94.03                               $73.39
Price/Unit (per above)                            $65,822                             $51,374

1575 Bernard Avenue, Kelowna, BC, Canada

Additional Information

Municipal Address 1575 Bernard Avenue, Kelowna, BC, V1Y 6R8
Legal Description Lot 8 Plan KAP32159 Section 20 Township 26 Land District 41
PID 003-256-162
Location Details 1575 Bernard Avenue is centrally located in Kelowna, walking distance to Parkinson Recreation Centre, Landmark Business District, shopping, restaurants, and services. It is situated on a transit supported corridor with easy access to public transportation.
Development Site Area 1.37 acres or 59,677 SF
Land Area 1.37 acres or 59,677 SF
Zoning P2, Education & Minor Institutional and RU1, Large Lot Housing
Future Land Use
(OCP)
Educational/Major Institutional
Taxes $33,024.56 (2021)

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.