The Daily Courier
Townhouse project about to start after 5-year delay
Work will soon start on a 56-unit townhouse development in Peachland approved more than five years ago.
Town council is expected next Tuesday to authorize changes to a development permit issued for the Somerset Reach project, between Highway 97 and Princeton Avenue centre along Princess Street.
Since approval was originally given in September 2015, the developer has been working “diligently” on various aspects of the project, town staff write in a report to council.
Some modifications have been made to the design of the townhomes, which requires changes to the development permit.
All the homes will have rooftop gardens, the developer says, with expansive views of Okanagan Lake.
The developer has said he expects buyers from the Lower Mainland to be interested in the project because Peachland is exempt from the province’s Speculation and Vacancy Tax.
The tax, which applies in Kelowna and West Kelowna, provides for an additional levy on those properties that are left vacant for most of the year.