The McDonald’s at 1746 Water Street sat vacant for 13 years before being demolished in November 2020. (Twila Amato/Black Press Media)
Kelowna lists vacant McDonald’s, Husky downtown locations for over $11 million
The long-vacant properties are listed along with the potential for “groundbreaking future development”.
Two lucrative urban properties in downtown Kelowna have been put on the market.
The former Husky gas station at 380 Harvey Avenue and the long-vacant McDonald’s lot at 1746 Water Street were put up for sale.
https://www.youtube.com/watch?v=ZD83dbIy8qs
These two properties are within a stone’s throw of each other and are being offered for a combined asking price of $11.275 million.
As part of a May 2020 lawsuit with the fast-food chain, the city purchased the former McDonald’s in May 2020 for $2.05 million. The building was demolished in November 2020.
According to the BC Assessment Authority, as of July 2020, the McDonald’s site was valued at $2.5 million and the Husky property at $4.38 million.
“The sale of these lots will add significant value to our community, both in terms of generating revenue for the city and the potential for groundbreaking future development in these key locations,” said Graham Hood, the city’s manager of strategic land development.
The redevelopment of the McDonald’s site would halt any development until the end of 2022.
READ MORE: McDonald’s demolition begins
READ MORE: Tiny House Workshop Shows Kelowna Residents How to Downsize
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isabella.harmel@kelowacapnews.com
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City of Kelowna real estate
