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Vernon Waterfront Development Opportunity
Status:
Price:
Active - Enquire
$8,100,000
Situated at the north end of Lake Okanagan, opposite the Vernon Yacht Club, the 2.76 acre Vela Vista development site is zoned and approved for development (permit currently expired) of 54 residential apartment units in three buildings.
The property is strategically located between the major Okanagan cities of Kelowna and Vernon, approximately 28 miles (45km) north of the Kelowna International Airport and 4 miles (6km) from downtown Vernon.
Zoning:
OCP Designation:
MSH
See MSH Zoning Details
Lot Size:
2.765 Acres
Potential FSR:
54 Units on accepted permit (currently expired)
Project Description:
Nestled in the hillside overlooking Lake Okanagan and the Vernon Yacht Club, the proposed Vela Vista development will comprise a total of three buildings in a series of terraced residences that are as unique as the view it celebrates.
Inspired by the singular beauty of its surroundings, and designed by FNDA Architecture Inc. (fndesign.com), the Vela Vista’s subtle arching lines and ascending terraces recall the curves of sails and the landscape of the surrounding mountains.
FNDA Architecture Inc. is an award winning firm located in North Vancouver, Canada. Their work spans a diverse range of building types and is international in scope, with projects in Canada and the U.S., and as far afield as Tajikistan, Kenya and Pakistan. Their portfolio includes hotels, educational buildings, conference, health care, spiritual centres and cultural facilities.
Parking Stalls:
Total of 81 spaces, including accessible & visitor parking Parking for Buildings B & C is shared and located under Building B
Building Height:
Building A – 4 1/2 storeys
Building B – 4 1/2 storeys
Building C – 3 storeys
City of Vernon MSH - Medium Scale Housing
MSH : Medium Scale Housing
History
Okanagan Landing began as an unincorporated settlement at the north end of Okanagan Lake, and was a port and shipyard for steamboats operating on the lake, as well as the terminus station for the Shuswap and Okanagan Railway.
After the last steamship on the lake, the SS Sicamous, was retired in 1936, the ship yard operated until the 1960’s. The decommissioned land was bought in 1971 by the Okanagan Landing and District Community Association and Okanagan Landing and was later annexed to the city of Vernon in 1993.
Neighbourhood Description
Okanagan Landing has seen significant development since being annexed by the City of Vernon.
Okanagan Landing Plaza serves the communities general shopping and social needs. An indoor soccer and sport center has been built at Marshall Fields, and two new schools have been built to serve the local community.
Waterfront and water view properties have experienced strong demand, attracting several new resort type developments and rising sharply in value over the past decade.
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.
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