A tower in the Landmark complex.
(JOHN MCDONALD / iNFOnews.ca)
June 08, 2018 - 3:30 PM
KELOWNA - The city should spend close to $100 million in the Capri Landmark neighbourhood over the next 20 year years making it much more liveable and should charge area developers for the improvements.
That’s the gist of a report to council by planner Ross Soward asking for approval to move ahead with the plan which would see a major realignment of Sutherland Avenue away from Highway 97 to Spall Road and the development of a large neighbourhood park as the centerpiece.
Bookended by the Landmark complex and the future Capri Centre, the plan calls for $52 million to be spent building new roadways and sidewalks and paying for the land acquisitions necessary to accommodate them.
Another $35 million would be spend on parks and public spaces and would include the conversion of a portion of Dickson Avenue into a public plaza and pedestrian walkway.
Development cost charges will cover about two/thirds of the cost but staff are also recommending an area-specific charge be added.
About half the transportation costs of $52 million would come from development cost charge reserves and another $14.2 million from taxation.
The neighbourhood is expected to be home to almost 9,500 people by 2020, the report says, and is expected to generate significant revenue for the city as private sector investment in the area approaches $1.3 billion.
Kelowna councillors will consider the plan at the regular council meeting, 1:30 p.m. Monday, June 11 at Kelowna City Hall.
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