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Will these lots be the 'Gateway to Kelowna’s Pandosy Village'?

This parking lot, along with three neighbouring houses, is for sale for more than $10 million.
This parking lot, along with three neighbouring houses, is for sale for more than $10 million.
Image Credit: Google Maps

Next to downtown Kelowna, the fastest growing neighbourhood is the South Pandosy area of the city.

Major housing projects are planned next to Bryce Gyro Park south of the Mission Park shopping centre and there are numerous other redevelopment projects in the area.

A parking lot on the corner of Pandosy Street and Wardlaw Avenue, along with three older houses, is now on sale for $10.48 million and is being dubbed by the realtor as “The Gateway to Pandosy Village.”

“This is an extremely rare assembly of four lots with a corner location and support for mixed use development in the heart of South Pandosy Village,” reads the HM Commercial Group listing. “This is a trophy site in this neighborhood.”

The properties are at the northwest end of the commercial development in Pandosy Village, next to Southgate Shopping Centre (which, the listing emphasizes, is not for sale).

The lot at 2602 Pandosy St. is a parking lot assessed by B.C. Assessment at just under $1.5 million. The three houses, at 475-485 Wardlaw Avenue, were built between 1938 and 1958 and have a combined assessed value of $2.2 million, for a total of $3.8 million.

The consolidated parcels are 100 feet by 250 feet, or 0.574 acres.

The city supports a higher density development for these sites, the listing says.

The seller wants to buy space on the main floor of the new development for retail space, the listing says.

It also describes the area as “Kelowna’s version of Vancouver's Kitsilano or Toronto Beaches.”

More details can be seen here.

READ MORE: iN PHOTOS: The most expensive homes for sale in Kamloops, Okanagan

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