Over the years, there has been a number of ideas proposed for the District of Summerland property on Wharton Street, and now it is finally being sold to a private developer for $1,989,000.
The district announced Tuesday that they have entered into an agreement for the sale of the Wharton Street properties, following a public Invitation to Submit Offers which closed on January 26, 2018.
Following the review of proposals submitted, district council signed an agreement with Alder Heights Holdings Ltd.
The proposal includes the construction of a four-storey, eighty-eight unit apartment building with 4,200 square feet of commercial space on the ground floor. Before proceeding to permits for construction of the development, the purchaser is required to submit rezoning and development permit applications. Opportunity for public input and comment on the proposed development will occur as part of the application review process.
In 2012, a development was proposed for a five-storey building on Wharton street that would also have housed the museum, the library and a cultural centre as well as housing units.
This development proposal is for a market rate, pet-friendly rental apartment housing with a mix of one, two and three bedroom units that would appeal to a variety of residents from students and seniors to families and professionals. The proposal includes underground parking and surface parking, landscape features adjacent to roadways, and a public plaza area adjacent to the intersection of Wharton and Kelly Avenues.
The proposed development would be constructed by Seymour Pacific Developments Ltd. and rental properties managed by Broadstreet Properties Ltd.
The sales agreement with the district is subject to Alder Heights Holdings applying for and being approved for rezoning and a development permit within 240 days. The district has the option to repurchase the property at the same price should the project not proceed.