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After 13 years, the City of Kelowna and McDonald’s have finally reached a settlement regarding the lot at 1746 Water St.
“Proactive land acquisition is a key component of the City’s long-range financial and capital planning framework and this site represents a key location in the City’s western gateway,” said Graham Hood, strategic land development manager.
“Coupled with last year’s acquisition of the former Husky station at 380 Harvey Ave., it represents a unique opportunity for future redevelopment.”
The McDonald’s at that site ceased operations in 2007 as the City constructed revised road alignments to facilitate the opening of the William R. Bennett Bridge.
However, the fast-food chain claimed land and businesses losses against the City, which began a lengthy lawsuit.
The City and McDonald’s have been working together since then to resolve outstanding concerns and have finally reached an agreement.
The 0.725-acre parcel of land and the legal settlement cost the City a total of $2.05 million.
“Assessment of the building, review of on-site security measures and remediation of the property is expected to begin immediately and take the better part of this year,” said Hood.
He added that a plan for lot consolidation and future redevelopment options will take advantage of the site’s prominence as the west entrance to Kelowna and the city’s downtown core.
It’s expected to be brought forward for Council’s consideration in the coming months.
Thumbnail photo courtesy of Aidan Whiteley.
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