City of Kelowna puts two downtown sites up for sale

The City of Kelowna is putting the For Sale sign on two of its properties.

The former Husky gas station at 380 Harvey Avenue and the long-empty McDonald’s site at 1746 Water Street, are being put on the market.

“Selling these lots will offer significant value to our community, both in terms of revenue generation for the City and the potential for groundbreaking future development at these key locations,” says Graham Hood, Manager of Strategic Land Development.

The properties are being listed at the same time, with a combined asking price of $11.275 million, to allow for the opportunity for the sites to be designed and developed concurrently, creating more possibilities for ways the location could be transformed.

The city strategically acquires properties for community use and investment. Future development of these two properties is anticipated to enhance the entrance to Kelowna and support the community vision of creating vibrant urban centres, with uses for residents and visitors to enjoy Kelowna’s downtown core. Other objectives for the future of these sites include: architectural excellence and significance, protection of the pedestrian interface on the highway, and the establishment of a linear connection from Water Street to Abbott Street.

Site remediation at the former McDonald’s property will continue through 2022 and redevelopment wouldn’t be expected until after completion.

Both sites are expected to see a return on investment under current market conditions and proceeds from the sale will be added to the city’s land sales reserve which finances the purchase of land for the overall benefit of the community in alignment with the city’s Land Strategy.