The City of Kelowna has announced that a major step forward is being taken on a key piece of real estate, which the city says is essential to the vision of the Civic Precinct Plan, in Kelowna’s cultural district.
“At this stage, we are pleased to release conceptual images to show how this space delivers on the overall vision of the area,” said Graham Hood, City of Kelowna’s strategic land development manager.
“Moving forward with RISE on this site supports the momentum of the cultural district and fills the need for more housing options downtown, in addition to delivering new spaces and amenities to benefit the entire community.”
RISE Commercial Developments has been selected by the city to lease a portion of a property, which is located at 350 Doyle Ave., a former RCMP site.
As part of a $7 million lease agreement, RISE will have to provide a 6,000-square-foot cultural space within the development, construct a new civic plaza and extend the artwalk to Doyle Avenue, according to city officials.
“This $4.3 million investment in public space contributes key elements in fulfilling the vision of the Civic Precinct Plan, developed in 2016 following extensive community engagement,” city staff said in a release.
RISE Commercial Developments has experience developing projects across Canada, including in the Okanagan, as it developed The Shore on Lakeshore Road, in Kelowna.
“We are very excited to work with the city in delivering on the objectives they have established for this site,” said Greg Appelt, RISE’s president.
“The property has a unique connection to the Cultural District and RISE is thrilled to be selected to move forward with our proposal, which includes exceptional public spaces and adding a significant number of modern rental suites to the heart of downtown.”
The development is part of a long-term land lease, meaning the land will eventually revert to city ownership.
The city says it anticipates RISE will proceed with development permit processes as early as the coming September.