Kampe estate back on market
After city council twice rejected redevelopment plans for the property, the former estate of late Penticton businessman David Kampe is back on the market.
The property at 435 Green Ave. W. was listed Monday for $4.5 million, the same price as when it first went on the market back in October 2020.
Soon after it was listed last fall, Broadstreet Properties is believed to have signed a purchase agreement that was contingent upon the Campbell River-based firm acquiring the necessary zoning and Official Community Plans to put up rental apartments.
But in the face of strong opposition from neighbours, council in May rejected a proposal for 151 apartments in two six-storey buildings, then earlier this month turned down a scaled-back version with 130 units.
Council killed both proposals at the earliest opportunity without sending them to public hearings.
Broadstreet Properties didn’t respond to a request for comment Tuesday. Neither did Patti Dunbar, the listing realtor for 435 Green Ave. W.
In a letter attached to council’s May 4 agenda package, Jason Doell claims Kampe left the property to him and one other person “with no restrictions on the use or development.”
“We felt that the location and development of (151) units in an area with highway access and nearby amenities would best serve young families and honour the memory of our friend and mentor,” wrote Doell, who also expressed frustration about some members of council pre-judging the project.
Situated on 3.6 acres at the corner of Channel Parkway and Green Avenue West, the property boasts a one-storey rancher with two bedrooms and three bathrooms spread over 4,600 feet. The property also features a 1,000-square-foot, onebedroom guest cottage.
The property is described in the listing as “an extremely well-maintained estate built to live privately, luxuriously and entertain friends and family.” It’s zoned small-lot residential, which permits a single detached dwelling, plus a carriage house and other accessory buildings.
BC Assessment valued the property at $2.5 million as of July 2020, with the land itself accounting for just $774,000 of that total. Annual property taxes are estimated at $15,000.
Kampe, who died in May 2019 at the age of 77, was famously private and built his fortune through Peters Bros. Construction, which he grew into a paving company with upwards of 200 employees who work all over B.C.
He’s best known for philanthropy in his later years, which saw him donate in the range of $8 million to Penticton Regional Hospital, where the new patient care tower bears his name.
Kampe was posthumously appointed to the Order of B.C.