Local Community Advertising
A court ordered sale has begun for a property in downtown Kelowna that is worth $6.5 million.
The land where the project was slated to go. (Photo Credit: McLaughlin Commercial Group)
The Monaco development, located at the corner of Doyle Avenue and St. Paul Street, is up for sale at $6,537,470. According to the realtor listing, the medium to high rise mixed commercial use building was proposed as a “dream development” but it never came together.
The Monaco was a project intended to consist of two towers: a 22 storey apartment hotel with a total of 289 suites and another 30 storey residential condominium.
The land where the project was slated to go. (Photo Credit: McLaughlin Commercial Group)
At the beginning of March, Premier Pacific Group was confident they would be able to get plans in order to move ahead with the project. The development permit for the project was set to expire in late April, and the group was tasked with getting conditions in order to present to Kelowna City Council before then.
If the conditions were met in time, the City would have issued them a development permit, which would have allowed Premier Pacific Group to apply for a building permit.
Artist rendering of the proposed Monaco project. (Photo Credit: File Photo)
It has been a long road for the Monaco project, which had been in the works for nine years, and was rejected by city council twice before finally receiving approval in April 2013. The land is now up for sale and according to realtor Ken McLaughlin, the new buyers will have the option to create a new theme for the project and will not be restricted by the failed Monaco project.
Local Community Advertising