October 24, 2014 - 4:29 PM
KELOWNA – The city of Kelowna has sold the last five parcels of land at the Central Green site for over $6-million to a local developer, kick starting the long stalled project in the heart of the city.
The former Kelowna Senior Secondary property is prime real estate just across Harvey Avenue from the downtown core, bordered by Richter Street and Rowcliffe Avenue.
Construction could start as early as 2015.
“The City and the community worked together from 2008 to 2011 to create a comprehensive plan for Central Green that would guide its development,” Mayor Walter Gray says in a media release. “The properties have been for sale since 2012, but we now have the right market conditions and a local developer came to the table with an offer that will see the community’s vision for the site unfold.”
The process of getting the necessary permits over the next few months to start on the rental housing is underway, according to Al Stober Construction.
There is a shortage of affordable housing in the Kelowna and city council decided 15 per cent of the site would be dedicated to lower cost rental units.
The City sold property to Davara Holding for $800,000 in 2013 to build a 30 unit support centre for the Karis Support Society.
B.C. Housing also acquired some of the land on which the Ki-Lo-Na Friendship Society will operate 86 units of affordable housing.
The project will be a LEED certified neighbourhood so it will use fewer resources, including water and energy.
Two hectares have been set aside for a park which is scheduled for construction in 2017.
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News from © InfoTel News Ltd, 2014