350 Doyle Avenue, Kelowna, BC
The City of Kelowna (the “City”) through its research has created a master plan that will see 350 Doyle Avenue developed in connection with the completion of the Art Walk which connects the Kelowna community Theatre, Courthouse, Art Museum, Rotary Centre for the Arts and Prospera Place Arena.
This property is being offered to third party developers on the basis of an 80 year pre-paid land lease. After dedications for the sidewalk that separates this parcel from the Kelowna Community Theatre, a net land area of 0.87 acres (37,897 SF).
In keeping with the Precinct Plan which encourages densified residential, Buyers are encouraged to create a mixed use development with commercial at grade and residential units above. This could be strata-ownership or planned rental apartments.
Criteria of this Opportunity:
List Price: $6,500,000
Less: Art Walk Construction (approx.) <2,250,000>
Less: Commercial/Amenity Space (approx.) <1,800,000>
Approximate Net Cost: $2,450,000
|Municipal Address||350 Doyle Avenue, Kelowna, BC|
|Legal Description||Lot C, District Lot 139, Land District 41, Plan KAP56114, ODYD|
|Location||350 Doyle Avenue is well located in Kelowna’s emerging Downtown North End/ Cultural District in close proximity to the new Interior Health Building & the new Innovation Centre. Just a few blocks from Prospera Place, the Kelowna Yacht Club & Cactus Club Cafe, and area beaches.|
|Land Area||0.87 Acres / 37,897 SF|
|Zoning||P1, Major Institutional, OCP: C7, Commercial|
E. & O. Insurance The information contained herein is assumed to be correct but is not guaranteed by the Listing Agent or Publisher and should be verified.