HM Commercial Group is pleased to present this opportunity for multifamily development land in West Kelowna.
2741 Auburn Road is adjacent to Constable Neil Bruce Middle School and on the same mountain as Terravita a mature multi-family development in the Shannon Lake area of West Kelowna. It’s walking distance to Mt. Boucherie Senior Secondary and minutes from West Kelowna’s Big Box Retail Centre.
The property is sloped with several benches suitable for development. A conceptual plan from 10 years ago showed a condo-type development of 218 units in 5 buildings of 3 storeys each but Buyers are encouraged to do their own due-diligence with respect to density and geotechnical matters.
- Up to 390,308 sq.ft. Gross Saleable Area (0.75 FAR, 3 storeys) under current R3 Zoning
- Up to 520,411 sq.ft. Gross Saleable Area (1.0 FAR, 3 storeys) if rezoned to R4 Medium Density Res.
City Planning Department indicate that a variance to allow for 4 storey development would be possible with a site-specific text amendment
- Market values for condo projects are $35,000 to $45,000/door