728 Valley Road, Kelowna, BC - Multifamily Development Land in Glenmore
Pending

Multifamily Development Land in Glenmore

728 Valley Road, Kelowna, BC, V1V 2E6

Price:
$12,250,000

Property Description

HM Commercial Group is pleased to present this 1.6 acre development property in the heart of Kelowna’s Glenmore neighbourhood.

Major Benefits:

  •  Kelowna is one of the fastest growing metropolitan areas in Canada
  • Flat site, easy to develop
  • 1.6 acres (69,522 sq.ft. land area)
  • Favourable zoning with increased density
  • Municipality is highly cooperative and solution oriented
  • Adjacent to Retail commercial plaza (DQ, Pharmacy, Medical Clinic, Liquor Store

Buyers can choose from one of two (2) options:

  1. Take over a recent conceptual plan for Vintage suites
    a. 100 unit retirement facility (1.34 FAR),
    b. DP/Zoning and building permit already in place
    c. Full architectural plans for 7 storey building w/2 level parkade
    d. $1.647 Million in DCC’s pre-paid
  2. Create new plan with new MF3 DRAFT zoning bylaw which features increased density
    a. up to 8 storeys and 2.05 FAR inclusive of bonus density
    b. Est’d Yield: 168 units (850 sq.ft. Avg Size) = $63,798/unit
    c. Further details included in this brochure

An extensive dataroom is available to those Buyers who sign a Non-Disclosure Agreement.

728 Valley Road, Kelowna, BC, Canada

Additional Information

Municipal Address 728 Valley Road, Kelowna, BC, V1V 2E6
Legal Description Lot 2 Plan EPP80501 Section 29 Township 26 Land District 41
PID 030-956-099
Location Details 728 Valley Road is ideally situated at the corner of Summit Drive and Valley Road at a light controlled intersection. It is located directly across the street from Hillside Plaza and a number of shops and services, and is surrounded by other multifamily developments.
Land Area 1.596 acres or 69,522 SF
Zoning CD27, Valley Land Subdivision
Future Land Use
(OCP)
MF3 Multi-Family
Taxes $15,937 (2020)
PDF's & Resources Non-Disclosure Agreement

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.