Great Resort Area Redevelopment Property – Penticton (Approved Rezoning)

CAN$6,000,000

270 Riverside Drive, Penticton, B.C.

The Ogopogo is a redevelopment project near the shores of Lake Okanagan in the resort City of Penticton.  The site will form part of the Northern Gateway Urban Village at the entry to the City.  Either a terraced, stacked townhouse form or a concrete podium and tower form can be pursued under the approved zoning. The entire area is very walkable and surrounded by park, golf course, shopping and residential. Views from the site will be commanding in all directions as it is surrounded by low-rise building forms.  A project that is target to retirees, vacation homeowners, and families is supported by many nearby amenities. The approved design has multiple gardens, an indoor/outdoor pool, and a greenway to be dedicated to the City. The unit mix ranges from one to three bedrooms, including ground level town homes and high-rise view units.

PROPERTY FEATURES AND HIGHLIGHTS

  • This property has been rezoned CD-1 ( comprehensive development).
  • The rezoning allows for up to 218 residential units in 2.5 FAR (tower/podium form).
  • The wood-frame townhouse option allows for 96 units in a terraced form.

PROPERTY INFORMATION

  • Lot Size = 97,617 sf
  • Zoning = CD-1 at up to 2.5 FAR
  • Actual Use = 17  unit motel and 31 unit Recreational Vehicle Park

OUR COMMENTS

This exciting property represents a key position in the resort City of Penticton. While the City has been a magnet for vacationers for decades, only recently has the retirement community started targeting it. Purchasers from the coast and from the prairies have seen the Okanagan as an attractive place to “scale down” and live in style. With increasing emphasis on a leisurely lifestyle, the entire Okanagan valley has experienced increased demand for it’s lakes, golf, wineries and skiing.  The Ogopogo project is in the prime location along Lake Okanagan to provide the maximum high-rise built form in an area surrounded by low-rise.  Increasing sales and values represent a prime development opportunity.

Enquire About This Property

View all

Featured Commercial Properties

Just Added

Waterfront Split Level Loft

Spectacular and truly unique corner, split level LIVE/WORK loft in Railtown’s Edge development on the waterfront. Prominent ground floor access … Continue reading “Waterfront Split Level Loft”

View CAN$2,088,000

Offers Invited

Property For Sale With Assembly Potential

Maude, MacKay & Co. Ltd. is pleased to offer for sale a highly desirable Vancouver West Side development Site. The … Continue reading “Property For Sale With Assembly Potential”

View CAN$4,498,000

Just Added

Commercial Property For Sale In Davie Village – Land Assembly Potential

Maude, MacKay & Co. Ltd. is pleased to offer for sale a freehold interest in 1048 Davie Street, Vancouver. The … Continue reading “Commercial Property For Sale In Davie Village – Land Assembly Potential”

View Price On Request

Contact Us

I'm Interested In...