There's exciting news for industrial property investors and businesses looking to set up shop in Kelowna! The Kelowna City Council recently approved the rezoning of land at 380 Bubna Road, situated near the city's northern border with Lake Country. This paves the way for the creation of a brand new industrial park.
Redevelopment Details
- Current Zoning: Natural resource extraction and agriculture/rural residential (non-ALR)
- New Zoning: General industrial use
- Development Scope: 60-lot industrial subdivision
This project aligns with Kelowna's Official Community Plan, which designates the area for industrial development. The new zoning specifically caters to "low-impact" general industrial uses. This means businesses that operate with minimal disruption to the surrounding environment will be prioritized.
Strategic Location and Considerations
The industrial park's location is significant for a few reasons:
- Transitional Buffer: The zoning and development regulations are designed to create a smooth transition zone between existing industrial areas and nearby properties, including the Okanagan Indian Band reserve, District of Lake Country lands, and agricultural land.
- Multi-jurisdictional Effort: A portion of the land falls outside Kelowna's city limits and requires approval for rezoning from the District of Lake Country.
Benefits and Opportunities
The creation of this industrial park holds promise for Kelowna's continued economic growth. Here's a glimpse of what this development might bring:
- Increased Job Opportunities: New industrial businesses will translate to job creation within the city.
- Boosted Commercial Activity: The development is likely to generate interest from related sectors like industrial equipment suppliers and service providers.
- Strategic Investment Potential: For industrial property investors and businesses seeking an established location with good infrastructure, this new development presents a compelling opportunity.
Staying Informed
While the rezoning for the Kelowna portion of the project is approved, the development awaits the District of Lake Country's decision on the remaining land.
Coldwell Banker Horizon Realty® is closely following this development's progress. If you're interested in learning more about potential investment opportunities within the industrial park or require assistance with navigating Kelowna's commercial real estate landscape, our experienced team is happy to help. Contact us today!
Disclaimer: This article is for informational purposes only and should not be considered as professional investment advice. Please consult with a qualified financial advisor before making any investment decisions.
