Developers behind the proposed Wharton Street project presented their plans at an information session on Thursday evening.
But the final details of the proposed development have not yet been completed.
“We are currently in the conceptual planning stage,” said Randy Gibson, one of the developers. “This is the time we’re looking for input.”
The project will be a mix of residential, institutional and commercial spaces. The buildings are to be constructed on the block of Wharton Street between Kelly Avenue and Rosedale Avenue.
Gibson said there is interest in the project.
“There are a lot of local businesses that would like to be involved,” he said.
The first building would include a new space for the library as well as three floors of residential spaces.
The library would cover 790 square metres, considerably more than the present 316 square metres. Residential units would range from 46 to 88 square metres.
Mike Stohler, a Summerland real estate agent working with the developers, said there is interest in smaller residential units. He added that in other developments, the smallest of the units tend to sell quickly.
Other buildings in the development would contain a mix of various uses.
“We’re creating a place where people can live, work and interact.” Gibson said.
The plan calls for multiple buildings on the property.
Gibson said the market will dictate the specific details of the various buildings.
The development proposal represents the second time such a concept has come up for Wharton Street within the past decade.
Earlier, a developer had proposed a series of buildings on the site, up to seven storeys high, to include a mix of institutional, residential and commercial spaces. However, the concept was abandoned early in 2011 after the developer at the time did not purchase the property by the Jan. 15, 2011 deadline.
Following the expiration of the property, municipal staff revisited the concept and prepared an updated expression of interest document for the property.