Plans for a development project on Wharton Street will be revisited as the municipality is reassessing the property.

Plans for a development project on Wharton Street will be revisited as the municipality is reassessing the property.

Wharton Street property revisited

The municipality has hired a land accountant to determine a fair value for a property on Wharton Street.

Municipal administrator Don DeGagne said the land accountant’s report should be completed within the next week. Recommendations will then be given to municipal council.

Earlier, the municipality was working to sell the property to a developer for the construction of a seven-storey development which would have residential units and would also house the museum and the library. 

In January, that plan fell through when the deadline passed without word from the developer.

Municipal council is now looking find another developer for the property.

“We have had some interest expressed by a couple of developers,” DeGagne said. 

DeGagne said the property could be put up for sale from May to September.

Once an interested developer comes forward, the work could progress quickly if the proposal is similar to the one considered earlier.

“If a developer wants to develop the same concept, it could start almost immediately,” DeGagne said. If rezoning or amendments to the Official Community Plan are needed, the timeline will be longer. “You could take almost a year to get the approval of a new concept.”

The need for a new space for the library still remains.

The library, built in 1981, is about half the size required to meet the needs of a community of this size, according to Okanagan Regional Library representatives.