HM Commercial Group is pleased to present this opportunity to purchase a highly coveted redevelopment site with holding income in Kelowna’s Lower Mission.
The property is situated just steps from Okanagan Lake, backs on to Mission Creek, andis adjacent to Manteo Resort, Hotel Eldorado and Aqua. Located just a few blocks south of Pandosy Village, and walking distance to restaurants, coffee shops, shopping and services.
- 1.254 acre site, with approximately 0.916 usable after dedications and setbacks
- Prime location in Kelowna’s Lower Mission
- Monthly apartment rentals provides secure cashflow with upside potential and is easy to manage
- Max FAR of 1.5 under current zoning
- New Draft Zoning Bylaw: TC1 (Cook/Lakeshore)
o Tourist Commercial/Hotel uses (overnight stays)
o Up to 15 storeys in height
o Up to 81,936 sq.ft. Saleable Area (1.5 FAR)
o Potential for 126 suites (avg size 650 sq.ft.)
- Located next to Aqua Waterfront Village: 17 storey development (+/- 400 homes)