1193 St Paul Street Active Save Request In-Person Tour Request Virtual Tour
Kelowna,BC V1Y2C6
Key Details
Property Type Commercial
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Subdivision Kelowna North
MLS Listing ID 10327208
Originating Board Association of Interior REALTORS®
Lot Size 0.340 Acres
Acres 14810.4
Property Sub-Type Freehold
Property Description
Rare and unique opportunity to purchase a fully approved, 88-unit, boutique hotel with groundwork completed and permits secured, in the heart of Kelowna's thriving Cultural District! All DCCs have been paid, and construction can begin immediately. The plans feature a 5-storey structure featuring a cafe, guest lounges, meeting room, fitness center, and rooftop deck with lake and mountain views. There will be 37 on-site surface parking places, street parking & various parkades close by. The property is surrounded by new high-rise developments and close to the Innovation Centre, Delta Hotel, Bernard Block and UBC Okanagan's upcoming 43-storey downtown campus. Situated on the corner of Clement Ave. & St. Paul St., just walking distance to Waterfront Park, restaurants, multiple wineries & breweries, art galleries, and cultural attractions. With only four hotels in Downtown Kelowna and new restrictions on short-term rentals reducing availability, the city is facing a significant accommodation shortage. This rising demand for quality lodging creates a prime opportunity for new developments to thrive. Kelowna has approximately 1,400 licensed short-term rentals, but nearly half are set to be eliminated by the end of 2025, further tightening the availability of lodging. The City of Kelowna has paused new short-term rental applications and is awaiting provincial legislation that will impose stricter regulations on these rentals. (id:24570)
Location
Province BC
Zoning Commercial
Rooms
Kitchen 0.0
Exterior
Parking Features No
Community Features High Traffic Area
View Y/N No
Total Parking Spaces 37
Private Pool No
Building
Lot Description Level
Others
Ownership Freehold