REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 6,350,000
Est. payment /mo
Active
1193 St Paul Street Kelowna, BC V1Y2C6
0.34 Acres Lot
UPDATED:
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
Listed by Unison HM Commercial Realty