One of the most intriguing pieces of real estate in downtown Kelowna has finally sold.
HM Commercial Group announced on Tuesday that the former Bargain Shop at 560 Bernard Avenue has been sold to a local developer.
“We are excited to see a developer realize the value of this site for future development,” said Jeff Hudson of HM Commercial Group. “It is one of the best remaining high-density sites in the downtown core, and the Official Community Plan indicates preliminary support for up to 26 stories.”
The property includes six legal titles totalling 1.5 acres and it covers an entire city block downtown, including 333 feet of frontage on Bernard Avenue.
“Although this property is still in the conceptual stage, the proposed redevelopment will enhance the revitalization of Downtown Kelowna,” said Marshall McAnerney, also of HM Commercial Group. “It is a major strategic chess-piece.”
The buyer and the price has yet to be revealed.