January 29, 2016 - 2:30 PM
THE PROPERTY COULD BE YOURS FOR $15.9 MILLION
KAMLOOPS - A part of Kamloops’ history is up for sale with the promise of future development opportunities.
Tranquille on the Lake is the most recent development property to hit the real estate market — a 150-year-old location best known as the former provincial tuberculosis centre, which later became an institution for the mentally ill.
While close to 50 buildings remain on the property its primary use has been agricultural, but Colliers International Broker Chad Biafore says the possibilities are endless.
“Nobody likes change, but I think it would be great for Kamloops if someone developed this property and put in homes,” he says. “There’s opportunities for people to live out here and grow Kamloops within the city."
At it's height, the sanitorium and farm were completely self-sufficient, providing the 1,000 patients and staff with food.
Since the closure of Tranquille Sanitorium in the 1980s, investors purchased the property and renamed in Tranquille on the Lake. A masterplan was created to turn the location into a buzzing development with 2,000 residential units, roads and commercial property with two kilometres of lakefront space.
The idea comes with a $15.9 million price tag, but Biafore says a develoopment partnership with the current owners would be possible.
The owners of the property developed Tranquille Farm Fresh which recently began bringing the farm to locals with a farmer’s market. Halloween is a popular time as tunnel tours throughout the bowels of the abandoned buildings are offered for a fee. Owners also build a corn maze each year.
Biafore says those activities may still be a part of Tranquille, but will depend on a partnership or if new owners decide to keep the traditions alive.
He says he is currently in talks with developers in Vancouver about the property.
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News from © InfoTel News Ltd, 2016