There was a big development in the Kelowna real estate market this past week – the 1.5 acre lot on downtown Kelowna’s main street (Bernard Ave.) that has sat vacant since 2010 has finally sold! Exciting news.
The city block property has been on the market for some time, and many have been wondering what will eventually occupy the site. The news that Mission Group (Ella, Central Green among other developments) have purchased the property has only intensified the interest.
In the City of Kelowna’s Official Community Plan, the site is earmarked for a 26-storey building, but Mission Group are yet to submit their plans to the city. Many are speculating that the development will be mixed use with residential and commercial space.
We think this is fantastic news for Kelowna and we’ll be watching the progress with much interest.
If you lived in Kelowna prior to 2010, you may remember this site as the home of the Bargain Shop. The sale price of the property has not been released, so it remains to be seen if the Mission Group scored a bargain, but the property was listed on the market for $9.4M.
Kelowna’s downtown core continues to grow and the skyline is set to undergo a big transformation over the months and years ahead.