Property price tag $37M
Photo: forsalebyowner.ca
The potential view from 1151 McKenzie Rd.
A massive plot of land in Kelowna’s Black Mountain area that is zoned for residential development is on the market for a whopping $37 million.
The property is located at 1151 McKenzie Rd., west of Black Mountain Golf Club, and consists of more than 90 acres. A similar sale in the area occurred last year, when Kirschner Mountain Development sold for $22 million, and it was billed as the largest MLS property sale in Association of Interior Realtors history. If this land sells for anything near its asking price, it would be the largest publicized residential sale in the city’s history.
The City of Kelowna recently changed the land zoning from agriculture to residential, which means nearly the entire area can be developed into single-family homes that would have stunning views of the city and Okanagan Lake. The property is also part of the Bell Mountain area structure plan, which was created in 2003, and is inside Kelowna’s permanent growth boundary, which gives it a huge head start for development.
Kelowna’s Crystal Wariach Law is representing the property owners, who are not using a Realtor for the transaction. Wariach said her clients did some preliminary investigation of the site and found it has the potential to feature more than 270 single-family homes.
She added her clients may end up developing the country themselves if they do not receive a favorable offer.
The listing for the McKenzie Road property can be found here.
Photo: forsalebyowner.ca
The potential evening view from 1151 McKenzie Rd.
