Two large sections of land at Reid’s Corner in Kelowna have sold for $13.7 million.
A tweet from the president of Denciti Development Corporation, the company that sold the 4.5 acres, reads that the sale achieved a benchmark per-square-foot price for vacant industrial land.
“It shows tremendous confidence in Kelowna’s real estate market,” tweeted Volodya Gusak.
Our footprint in Kelowna market is substantial: both industrial & residential. We are committed to this great city for decades to come.
And sometimes the best thing for a project is to sell some land.
Sold 4.5 acres of industrial land located at 2100 Rutland Road, Kelowna BC. pic.twitter.com/jEv5DPvJSp
— Volodya Gusak | Denciti (@volodyagusak) February 15, 2023
“We are also delighted to share that a part of the proceeds from the sale was donated to two great causes.”
The property is located at 2100 Rutland Road.
Denciti originally earned the green light to develop on the land in June 2020, when it was passed by council. They had plans for a shopping centre, car wash and drive-thru restaurant for one of the two lots, while the other was originally slated for a gas bar, another shopping centre, and some space for industrial use.
An artist’s rendering of the proposed shopping centre at Reid’s Corner from June 2020. (Black Press file photo)
READ MORE: Kelowna council green-lights Reid’s Corner shopping centre
READ MORE: Royal BC Museum tour stopping in Kelowna
@GaryBarnes109
gary.barnes@kelownacapnews.com
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