Kamloops 4 Building Mid-Rise Development Site with Architectural Plans and City Approvals!

Status:

Price:

Active - Exclusive Listing

$8,800,000

Kamloops 4 Phase Development Opportunity

Zoning:

OCP Designation:

Potential FSR:

CD-8

NCP - CD-8

In the CD-8 zone, no building or structure shall be constructed, located, or altered and no plan of subdivision approved that contravenes the regulations set out in the table below in which
Column 1 sets out the matter to be regulated and Column 2 sets out the regulation. Unless
otherwise stated, the following regulations apply to the CD-8 zone.

Maximum total number of dwelling units
permitted 415

Minimum number of seniors units 115

Minimum/maximum building height
Building 1 10/11 storeys
Building 2 15/17 storeys
Building 3 12/13 storeys
Building 4 8/9 storeys

Minimum/maximum commercial floor area (m2)
Building 1 150/225
Building 2 650/725
Building 3 525/600
Building 4 0/50

Maximum commercial floor area per unit in any
building 200 m2

Minimum/maximum office floor area (m2)
Building 1 0/50
Building 2 300/350
Building 3 25/35
Building 4 65/100

Gross Floor Area = 407,674 sq ft
Building 1 79,173 sq ft
Building 2 135,062 sq ft
Building 3 93,344 sq ft
Building 4 100,095 sq ft

OVERVIEW - SHOVEL READY opportunity to develop 4 mid rise buildings in the growing city of Kamloops.
The Architectural Drawings and City Approvals are in place!

Gross buildable floor Area of 407,674 sq ft = $21.59 buildable / sq ft across 4 mid rise buildings allowing a wide range of uses for this Mixed Use Complex:

Principle Use:
- Multiple Family Residential;
- Senior Citizens' Housing; and
- Senior Citizens' Housing, Light Care.

Conditional Uses:
- Business support services;
- Community care facility;
- Daycare facility;
- Financial institution;
- Health services;
- Home-based business;
- Medical office;
- Neighbourhood convenience store;
- Office;
- Recreation facility - indoor;
- Personal service;
- Professional practice;
- Residential care facility;
- Restaurant;
- Retail liquor sales; and
- Retail trade.

North Shore Neighborhood Plan

CD-8 Zoning - Page 54-27

Cottonwood Comprehensive Development Zone Eight

WHY DEVELOP IN KAMLOOPS? General Overview Highlights!

Drive / Flight Times:
Vancouver 3.5 hours / 55 minutes
Kelowna 2 hours / 38 minutes
Calgary 7 hours / 1 hour

Climate:
2,000 hours + of Annual Sunshine!
Ranked in Canada among 100 largest Canadian cities
Hottest Summer - 1st
Driest - 2nd
Most days without precipitation - 3rd

Incentives and Direction:
- Population increase per year for the past 15 years at a 1.12% rate - further increases expected as Penturbia migrations occur under pandemic conditions
- North Shore Revitalization Tax Exemption - https://www.venturekamloops.com/why-kamloops/incentives/north-shore-neighbourhood-plan
- Real Estate Forecast - The B.C. Real Estate Association predicts 2020 to finish with a 7.7 percent increase in average price over 2019.
- The BCREA also forecasts a further increase of 3.7 percent in 2021
- Building permits increased substantially over prior year as of Sept 2020 TYD
- Residential increase of 18.5%
- Commercial increase of 140%!
- Demand - 6 storey development underway for Senior and Affordable housing received 100 applications for a 112 unit 6 storey complex before building started
- Demand for Senior housing exceeds the number of units available

Industries:
-Core Drivers
- Transportation and Logistics, Healthcare, Forestry, Manufacturing, Agriculture, Retail, Mining
- Emerging:
- Hi-Tech, Green Energy, Tourism

Education High Level:
- Thompson Rivers University - Internationally recognized! https://www.tru.ca/
- New $32 million Industrial Training and Technology Center officially opened for learning

Tourism:
- Tournament Capital of Canada - The City of Kamloops has built its vision and dream around the Canadian Sport Policy and by embracing the goals of this policy, Kamloops is realizing the results of increased participation, economic generation of sport tourism, and first class facilities.
- McArthur Island Sport and Event Center a 5 minute walk from this development site.
- Skiing - Internationally recognized Sun Peaks Resort
- Hockey - WHLs home for Kamloops Blazers alumni including Mark Recchi, Jarome Iginla, Darryl Sydor, Nolan Baumgartner, Shane Doan, Scott Niedermayer, Rudy Poeschek and Darcy Tucker (Recchi, Doan, Iginla, and Sydor are now part-owners of the club). Two-time champion coach Ken Hitchcock would later win the Stanley Cup with the Dallas Stars

Kamloops is a HIGHLY Business Friendly City!!! Visit https://www.venturekamloops.com/why-kamloops/

At Praedia, every property we market we create an in depth Property Information Booklet, this helps us communicate with you on specific property information related to not only this property but surrounding pertinent details to help with your decision making.  Contact us for this information or any other questions you may have.

Contact Us

Arnold Sam

Real Estate Advisor

604.505.6810

Arnold@Praedia.ca

  • Instagram
  • Facebook - White Circle
  • YouTube

Michael Nam Nguyen *PREC

Real Estate Advisor

604.767.8904

Nam@Praedia.ca