Construction of ‘creative hub’ downtown could begin by 2024
Construction of a new highrise and “creative hub” on a prime downtown Kelowna property could begin within three years.
The city announced Thursday that all conditions have now been lifted for its agreement with RISE Commercial for redevelopment of the former RCMP detachment site at 350 Doyle Ave.
The deal will see the company pay the city $7 million for an initial 80-year lease for the right to build a residential tower of an asyet unknown height on the property, according to terms of the agreement released last June.
Of that amount, the city will earmark $4.3 million for a new civic plaza, an extension of the Artwalk pedestrian corridor, and a 6,000square-foot public amenity space.
The plan, subject to an upcoming feasibility study, is to establish a “creative hub in the community space, designed to flexibly accommodate a range of creative activities,” according to a city release.
The necessary permitting and rezoning process for the project is expected to begin later this year, with construction to get underway by early 2024.
“This development is another step in ensuring downtown Kelowna is an attractive place to live, work, and play into the future,” said Graham Hood, the city’s strategic land development manager.
RISE Commercial has projects across Canada, including the recently completed ‘Shore’ residential and commercial building on Lakeshore Road across from Boyce-Gyro Park.