City-owned downtown land open to bids
A large piece of prime downtown real estate is now on the market.
The City-owned property at 350 Doyle Ave., previously occupied by the RCMP detachment, is listed with HM Commercial Group at $6.5 million. Located in the Cultural District between the Kelowna Community Theatre and the Okanagan Innovation Centre, the new building will provide downtown housing and ground-level commercial space.
“The property will be marketed starting July 5 until early September and then staff will evaluate bids and make a recommendation to Council for the disposition of land consistent with City practices and pre-established evaluation criteria,” said Graham Hood, Strategic Land Development Manager.
The City’s requirements for the development include:
- LEED certified (or better)
- Prepaid land lease (80+ years)
- Primarily residential development (minimum 10 storeys)
- A two-year timeframe to begin development
- Provision of 6,000 square feet of community amenity space
- Construction of Artwalk extension
Since the old police building was demolished last year, staff have been working on a formal marketing proposal for the 0.35-hectare (0.87-acre) property.
In keeping with the City’s Civic Precinct Plan, the development calls for densified housing and mixed-use commercial at ground level. The housing could be strata-ownership or planned rental apartments.
The Civic Precinct Plan also foresees redevelopment of the Kelowna Community Theatre property, although there are no plans yet for that part of the plan to proceed.