A $2.6 million deal between the City of Kelowna and the Mission Group will turn a parking lot on Ellis Street into a residential highrise.
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February 17, 2017 - 5:30 PM
KELOWNA - The City of Kelowna is focusing on bringing more people to live downtown. A deal worth more than $2.6 million was finalized today, Feb. 17, between the City of Kelowna and Mission Group to purchase two downtown properties.
The two properties at 1558 and 1580 Ellis St. will be used for a residential, mixed use development, according to a City of Kelowna media release.
Over the last five years, the City has invested over $20 million downtown, towards parking, public spaces and transportation infrastructure.
“Downtown is continuing to achieve the goals of attracting people, increasing vibrancy and building on the economy of our city,” Graham Hood, Strategic Land Development Manager for the City says in the release. “Enabling residential growth downtown will allow for easy access to transit, services and other amenities and less reliance on vehicles.”
The two properties, located on the corner of Ellis Street and Lawrence Avenue are currently being used as a parking lot after the City purchased them for $1.97 million in 2012.
The building will be between 12 and 19 storeys and will have commercial space on the ground floor.
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