First steps have been taken that could lead to up to 1,500 residential units and commercial space in an area close to the Penticton Regional Hospital, Penticton, ÎÚÑ»´«Ã½
At a June 20 meeting, Penticton city council members approved moving forward to public consultation over a proposed Official Community Plan change for 1704 Government Street, which would change it from "industrial" to "mixed-use."
The development is being spearheaded by Tien Sher, with a joint-venture partner. Tien Sher is known as prolific builder in the Whalley area of Central Surrey. Tien Sher president Charan Sethi said the Penticton site represents a similar opportunity.
“Like Whalley, it’s a fantastic opportunity for us to redevelop under-utilized land and provide much needed housing, commercial and office space,” Sethi told Western Investor.
The 10-acre property is located at the edge of Penticton's industrial area off Ellis Creek, currently containing a warehouse used for bottle-washing.
The city has received a proposal to turn the location into housing, a mix of strata and rentals, with office and retail rentals as well. There would be approximately 11 buildings, ranging from six to 12 storeys, built in phases over several years.
City staff noted that office and retail space could support the hospital across the street, and that the lot has been "under-utilized" for multiple years.
Council supported sending the matter to public hearing, which is a preliminary step before council endorses any design.
Once engagement is done, staff will summarize results for council and the public, at which time further decisions will be made.
