Schoenne Homes was given the go-ahead to wedge a three-unit apartment complex onto the southeast corner of Lakeshore Drive.
During the regular council meeting on Monday, June 15, a development permit was approved at 88 Lakeshore Dr. to allow for the construction of a four-storey building, with one apartment unit on each of the second, third, and fourth floors.
“To me (88 Lakeshore Dr.) seemed natural for residential development,” owner Bruce Schoenne said. “I looked at the property number of years ago with the same intentions, but the timing wasn’t right.”
Schoenne said the units will appeal to high-end clients, and are to sell for an estimated $1.6 to $1.9 million each.
“The city doesn’t have very high quality developments and we believe there is a market for it.”
Construction of the building will require two public parking spaces to be removed to allow an entrance, but right next door sits a fire hydrant which blocks two potential stalls from being used for parking. To prevent the number of parking spaces on the street from being reduced, Schoenne committed to relocating the fire hydrant to a site where it won’t impede upon parking, which he expects to cost around $5,600. The building will also offer four private parking spaces.
“Since the development’s been announced, we’ve had significant interest in it,” he said, adding that the majority of demand has been drawn towards the penthouse suite.
Coun. Tarik Sayeed asked if there was any commercial interest in the building, citing a concern from neighbours.
“There is no main floor commercial use,” interim CAO Chuck Loewen assured, in his final meeting as an employee of the City of Penticton.
Sayeed then asked if there would be any need for Schoenne to apply for rezoning to suit his needs.
“It’s quite specific and allows for exactly this kind of development,” Loewen said.
No timeline has been drawn out, but Schoenne said construction is likely to begin after two units have been presold. And there’s a possibility that his family will be moving into one of the units — in that case, construction could begin after just one unit sells.
