Civic Precinct Plan taking shape with key development selection
Progress is being made on a key piece of real estate, core to the vision of the Civic Precinct Plan in Kelowna’s Cultural District. RISE Commercial Developments has been selected to lease a portion of the property located at 350 Doyle Avenue, the former RCMP site.
“At this stage, we are pleased to release conceptual images to show how this space delivers on the overall vision of the area,” said Graham Hood, Strategic Land Development Manager. “Moving forward with RISE on this site supports the momentum of the Cultural District and fills the need for more housing options downtown, in addition to delivering new spaces and amenities to benefit the entire community.”
As part of the $7-million lease agreement, RISE will provide a 6,000-square-foot cultural space within the development, construct a new civic plaza, and extend the Artwalk to Doyle Avenue. This $4.3-million investment in public space contributes key elements in fulfilling the vision of the Civic Precinct Plan, developed in 2016 following extensive community engagement.
RISE Commercial Developments, headquartered in Kelowna, has extensive experience developing projects across Canada, including The Shore, recently completed on Lakeshore Road.
“We are very excited to work with the City in delivering on the objectives they have established for this site,” said Greg Appelt, President of RISE. “The property has a unique connection to the Cultural District and RISE is thrilled to be selected to move forward with our proposal, which includes exceptional public spaces and adding a significant number of modern rental suites to the heart of downtown.”
The development of the property is part of a long-term 99-year land lease, meaning the land will ultimately revert to City ownership. Upon release of all contractual conditions, it is anticipated the developer will proceed with the public development permit process as early as September.