3596 Old Okanagan Highway
Offered at: $1,000,000
Offered at: $1,000,000
MLS®: 10302710
Welcome to the newly designated Westbank Urban Centre - Commercial Core (Area B) of West Kelowna's new 2040 Official Community Plan, permitting maximum building heights up to 15 storeys! The purpose under this newly found designation is to promote a high-density district with a high concentration of commercial and office uses, while allowing for some mixed-use residential and public and private amenities. Uses include Commercial (office and retail), Mixed-use buildings, Institutional and ancillary housing initiatives and live-work units. In the meantime, this property offers wonderful holding revenue and has been considerably updated/renovated over the years, including new windows, flooring, kitchen, bathrooms, lighting, etc. Lovingly cared for and lived in by the owners, who would be willing to rent back until development approval, demo and site prep begins. *Other neighbouring properties available for multiple-site acquisition and assembly.* Buyer to perform own due diligence to verify maximum heights and density under provisions of the zoning bylaw. (id:6769)
City
West Kelowna
Subarea
Westbank Centre
Lot
0.17
Construction Date
1954
British Columbia, Canada, V4T1P3
Single Family
0.17
Chamberlain Property Group
3596 Old Okanagan Highway – Welcome to the newly designated Westbank Urban Centre
Commercial Core (Area B) of West Kelowna’s new 2040 Official Community Plan, permitting maximum building heights up to 15 storeys! The purpose under this newly found designation is to promote a high-density district with a high concentration of commercial and office uses, while allowing for some mixed-use residential and public and private amenities.
Uses Include:
- Commercial (office and retail), Mixed-use buildings, Institutional and ancillary housing initiatives and live-work units. In the meantime, this property offers wonderful holding revenue and has been considerably updated/renovated over the years, including new windows, flooring, kitchen, bathrooms, lighting, etc.
Willing to Rent Back
- Lovingly cared for and lived in by the owners, who would be willing to rent back until development approval, demo and site prep begins. *Other neighbouring properties available for multiple-site acquisition and assembly.* Buyer to perform own due diligence to verify maximum heights and density under provisions of the zoning bylaw.
Ideal Client Profile for 3596 Old Okanagan Highway Property
This property is a perfect investment for the following types of clients:
- Real Estate Developers and Investors:
- Individuals or companies specializing in high-density mixed-use developments seeking opportunities in a growing urban core.
- Developers interested in assembling multiple properties for larger projects in areas with high future growth potential.
- Commercial Property Investors:
- Those looking for holding properties with current revenue streams while awaiting redevelopment approvals.
- Visionary Urban Planners or Institutions:
- Organizations or planners looking to capitalize on the Westbank Urban Centre’s designation as a high-density commercial and residential hub.
- Corporate Entities Seeking Mixed-Use Opportunities:
- Corporations looking for strategic locations to establish flagship offices, retail centers, or institutional facilities within a thriving community core.
- Sustainability and Green Development Advocates:
- Investors or developers interested in creating sustainable, community-focused projects that integrate residential and commercial use.
Reasons to Add 3596 Old Okanagan Highway to Your Portfolio
- Prime Location in a Thriving Community
- Situated in West Kelowna’s newly designated Westbank Urban Centre, this property benefits from strategic placement within a high-growth area. The 2040 Official Community Plan positions this neighborhood as a major hub for commerce and mixed-use developments.
- Nearby properties also available for acquisition and assembly further enhance its potential for large-scale developments.
- Exceptional Development Potential
- Zoning allows for buildings up to 15 stories, ideal for mixed-use, commercial, and residential projects.
- Flexible use designation, including office and retail spaces, live-work units, and housing initiatives, offers diverse project possibilities.
- Revenue-Generating Property
- The current property is meticulously updated with modern amenities, providing an immediate revenue stream through rental agreements.
- Owners willing to rent back the property until development commences ensure a smooth transition for the buyer.
- Area Growth and Demand
- West Kelowna is experiencing increased interest due to its strategic location, proximity to major amenities, and economic growth.
- With new infrastructure plans and zoning initiatives, property values in the area are projected to rise significantly.
- Ease of Future Development
- The property’s updates (new windows, flooring, kitchen, and bathrooms) ensure minimal upkeep during the holding period.
- Buyer benefits from a head start by acquiring properties in a cluster, aligning with urban development goals.
Why Act Now?
- Capital Appreciation: As West Kelowna transforms under its 2040 plan, early adopters stand to gain from rising property values and demand for high-density spaces.
- Strategic Timing: Locking in this property now offers a competitive edge, especially with neighboring properties available for assembly.
- Flexibility: The mixed-use zoning and high-density permissions allow investors to align the property with future trends and market needs.
- Community Appeal: The opportunity to be part of a forward-thinking urban plan that integrates commercial, residential, and public amenities enhances the desirability for both developers and eventual end-users.
This property isn’t just a piece of land; it’s a strategic gateway into the future of West Kelowna. Whether you’re building for residential, commercial, or institutional purposes, 3596 Old Okanagan Highway offers unparalleled potential in a market poised for growth. Don’t miss this chance to secure a cornerstone in the Westbank Urban Centre!
Schools Near 3596 Old Okanagan Highway :: West Kelowna
The proximity to schools is a strong selling point for potential developers looking to include residential units in the mixed-use development plans.
It enhances the appeal to families and supports the vision of creating a vibrant, community-focused urban core.
The area around 3596 Old Okanagan Highway in West Kelowna is well-served by a variety of schools, making it an appealing location for families or developers aiming to attract residential interest in mixed-use projects.
Notable SD23 schools include:
- Elementary Schools:
- Helen Gorman Elementary: Serving Kindergarten to Grade 6, located at 3230 Salmon Rd., just a short distance from the property.
- Hudson Road Elementary: Offers K-6 education, including English and French Immersion programs, situated at 1221 Hudson Road.
- Chief Tomat Elementary: Located at 3365 E. Boundary Road, also serves Kindergarten to Grade 6.
- George Pringle Elementary: Provides K-6 education with French Immersion options at 3770 Elliot Road.
- Middle and High Schools:
- Glenrosa Middle School: Covers Grades 7-9, situated at 2974 Glen Abbey Pl.
- Mount Boucherie Senior Secondary School: Offers Grades 10-12 at 2751 Cameron Rd.
Commercial Properties Near 3596 Old Okanagan Highway
City Furniture
Superstore
Canadian Tire
Walmart
Okanagan Lake
Home Depot
