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Dead developments come back to life as Kelowna real estate market continues to build

Confidence in the local economy has prompted change, and even those persistent trouble spots are being dealt with...
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Downtown development picking up

From the dead-zone created by the vacant Bargain Shop on Bernard Avenue to the dirt-pile that was once dreamed to be a high-end hotel near the Cultural District and everything in between, Kelowna害羞草研究所檚 downtown has a few high profile blights obscuring the view of the many improvements that have taken root.

It seems, however, that confidence in the local economy has prompted change, and even those persistent trouble spots are being dealt with.

害羞草研究所淭here are a lot of people interested in investment in the downtown area right now,害羞草研究所 said Ryan Smith, City of Kelowna community planning manager, adding there害羞草研究所檚 been a cultural shift in the city driving changes.

害羞草研究所淚f you害羞草研究所檙e out here on most nights, you see a real change in how it was from five years ago.害羞草研究所

People are out enjoying the increasing number of amenities, and new businesses are springing up to adapt to their demands.

And that害羞草研究所檚 having a cascading effect.

Clement and Sunset:

The dirt pile at the corner of Clement Avenue and Sunset Drive, across from Prospera Place is a reminder that even the best laid plans can go astray.

As city-spawned programs to spiff up the downtown got underway nearly 10 years ago, but construction of a loudly trumpeted, high-end hotel ground to a halt, leaving behind just a large mound of dirt.

In the years that followed, the bright posters signalling the construction of a new hotel faded away and most of the action on the site was from transients in their makeshift homes.

Now it looks like it害羞草研究所檚 getting some development-oriented attention again.

害羞草研究所淚t害羞草研究所檚 tied up right now,害羞草研究所 Smith said. 害羞草研究所淪omeone has a contract to purchase it, and I don害羞草研究所檛 know who that is. It害羞草研究所檚 a pretty key component of downtown.害羞草研究所

Smith noted that it害羞草研究所檚 great to see sites of this kind change hands as it comes with the promise that new owners will work on a development plan. As for what that plan is, that remains to be seen.

害羞草研究所淚t has mixed-use commercial zoning,害羞草研究所 said Smith. 害羞草研究所淭here was a restriction on title that a hotel use would be required on the site.

害羞草研究所淭hat may be a component of what害羞草研究所檚 going there, but there will be some flexibility on the city害羞草研究所檚 part.害羞草研究所

1151 Sunset Drive:

The highrise project with a new and very geographically specific name is better known to longtime Kelowna residents as Lucaya.

The 21-storey project which failed when funding fell through in 2008 was one of the most high-profile victims of the recession and, much to the chagrin of area business owners in the years that followed, only got attention from area birds who chose to nest on the abandoned crane.

Late last year that all changed.

Developers who had purchased the site decided the real estate market in Kelowna had legs, and starting this morning they害羞草研究所檒l be showing the community their plans for the space.

Sales will commence in September.

The public will have the chance to visit Kerkhoff Construction害羞草研究所檚 presentation centre to start previewing floor plans and designs. Sales of the homes will not commence until mid-to-late September, so previews are only with the intent of providing the public with more information about the recently resurrected site prior to making a decision to purchase.

The highrise will include 117 condominiums and seven townhomes, ranging in price from $309,900 to $347,900 for a one bedroom, $289,900 to $489,900 for a one bed and den, $399,900 to $504,900 for a two bedroom, $519,900 to $717,900 for a two bed and den, $739,900 to $899,900 for a townhome and $1,399,900 to $1,599,900 for a sub penthouse.

害羞草研究所淲e are happy to finally be able to show Kelowna residents some progress on the site,害羞草研究所 said Leonard Kerkhoff, vice-president of Kerkhoff Construction.

害羞草研究所淲e are proud to be providing more prestigious housing in downtown Kelowna.害羞草研究所

Housing is something that Smith is predicting will be of greater demand as more downtown commercial plans fall into place.

On Doyle Avenue construction of the Innovation Centre and the Interior Health building is nearing completion, ensuring that a high volume of highly paid residents will be in the area.

害羞草研究所淲e haven害羞草研究所檛 seen a whole lot of additional housing in the last few years,害羞草研究所 he said. 害羞草研究所淣ow you are seeing more offices and commercial locations but in the next five to six years, you害羞草研究所檒l see that translated into demand for condos.害羞草研究所

Bargain! Bargain! Bargain!

If anything caused downtown business owners to shake their fists in frustration, it was the Bargain! Bargain! Bargain! shop.

When 30 years of deals dried up at the end of 2010 due to what the business owner attributed to a 害羞草研究所渓ack of sales害羞草研究所 there were high hopes of something more dynamic would take its place.

Community speculation led some to believe that a live music venue would take its place, while others simply hoped for more retail so the space could continue on in the tradition that was started when it was a Woolworth.

Regardless, nothing happened and until recently it was a vacant building taking up some serious real estate.

害羞草研究所淭he land is up for sale now,害羞草研究所 said Smith.  害羞草研究所

害羞草研究所淭hat害羞草研究所檚 an area along our new Bernard Avenue, where there害羞草研究所檚 no real activity. New uses could include spill out patios, or retail害羞草研究所hings that would make it a place where people want to go.害羞草研究所

Smith, however, is just speculating. Thus far, no proposals for the space have crossed the threshold of city hall.

害羞草研究所淏ut, we害羞草研究所檙e positive,害羞草研究所 he said.

We害羞草研究所檙e not quite sure what will come with that, if anything, but we害羞草研究所檙e positive that someone could buy it.害羞草研究所

The Packinghouse

The old BC Tree Fruits packinghouse on Clement Avenue may have one of the most controversial histories, when it comes to failed development projects.

It was only a few years ago, as the popularity of the Kelowna Farmers害羞草研究所 and Crafters害羞草研究所 Market really grew to new heights that a plan for a Granville Island-style market took root and fractured relationships within the organization.

Some farmers wanted to move to the site, others demanded to stay where they were and several volunteer boards rose and fell.

Within a year of all the tumult it became clear that the property wouldn害羞草研究所檛 likely be Kelowna害羞草研究所檚 homage to Pike Place Market and in February of this year, a listing for the building went up.

An ad listed the 5.33 acre property for $7.5 million. The property was said to have 900 feet of frontage on Clement Avenue, 害羞草研究所渁 major arterial road in Kelowna which sees 20,000 cars go by each day.害羞草研究所

The newest chapter in the building害羞草研究所檚 plans is the least grandiose.

From Sunday, Aug. 21, to Saturday, Aug. 27, Clement will be limited to single-lane alternating traffic from 7 p.m. until 6 a.m., so crews can take down the old structure.

When it gets a new owner, however, there are all sorts of possibilities.

害羞草研究所淔rom the city害羞草研究所檚 perspective, there should be an industrial component that lives on in that site,害羞草研究所 said Smith.

害羞草研究所淲e, from a city perspective, are open to residential uses. It害羞草研究所檚 a transitional site, but there害羞草研究所檚 a great opportunity as the area redevelops with liquor manufacturing type uses害羞草研究所here害羞草研究所檚 some flexibility on the city of things.害羞草研究所

And There害羞草研究所檚 More:

RG Properties, which owns the arena and the land around it, is currently exploring redevelopment on parking lot land as well as the land on Ellis and Clement.

The idea of mixed use residential properties is what害羞草研究所檚 on their mind.





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