What does $4.4 million get you in terms of waterfront property in Kelowna? A house on less than an hectare of land if you are shopping on the city’s most expensive street.
The City of Kelowna has announced it has bought a 0.89-hectare lakeshore property on Hobson Road in the upscale Lower Mission neighbourhood for future parkland. Hobson Road is home to some of the most expensive houses and lots in the city.
Described as a “significant” property at 4214 Hobson Road, the purchase will add future public parkland to the waterfront right beside the city-owned property where the Central Okanagan Small Boat Association currently operates.
“The city is always looking to improve public access to waterfront property along Okanagan Lake, and this acquisition is in a really important location,” said Mayor Colin Basran in a news release issued by the city Monday morning.
“As Kelowna continues to be an attractive place for citizens to live and a popular tourist destination, it is increasingly important to protect valuable waterfront property for parks and public access.”
The money for the purchase will be come from the city’s development cost charge program for parkland acquisition.
The property will add to Kelowna’s waterfront network between the recently acquired Bluebird Park to the north and Sarson’s Beach to the south.
“Staff anticipate removal of the residence and site clearing in Spring of 2019, with the objective of making the property accessible to the public as soon as reasonably achievable,” said real estate services manager Johannes Säufferer.
“Staff will also work with the Central Okanagan Small Boat Association to ensure that the overall site is developed and used in way that maximizes the public’s access to much sought-after waterfront services and amenities.”
The purchase and sale agreement was completed June 1, and the the owner will remain on-site as a tenant of the city until Nov. 30.
Public access is currently restricted for the privacy of the existing occupants.
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