The long-term lease for the former RCMP site on Doyle Ave. has been finalized

Photo: City of Kelowna

A long-term lease agreement between the City of Kelowna and Rise Commercial Developments have been finalized, paving the way for development of a mixed-use project on the former RCMP site on Doyle Avenue.

Once complete, the development would become one of the first building blocks in the city's vision for what is known as the downtown Civic Precinct, which stretches from Queensway to Clement avenues and Water to Ellis streets.

The city will be paid $7 million for the initial 80-year lease, of which $4.3 million will be reinvested into the site for development of a new civic plaza, extension of the Artwalk, as well as a 6,000 square foot community amenity space.

Strategic land development manager Graham Hood says that investment will bring forward "key elements of the Civic Precinct Plan... without a direct impact on taxation."

Hood says work is already underway to look into the feasibility of establishing a new creative hub within the community amenity space.

That hub could accommodate a wide range of creative activities. A full report will be brought to council for consideration later in the year.

"We’re seeing exciting new elements on the horizon as downtown Kelowna continues to grow in step with our city,” said Hood.

“With many new residential units in the pipeline to strengthen downtown housing needs and a new downtown UBC Okanagan campus being developed, adding to our renowned waterfront parks, active transportation corridors and eclectic food and beverage and retail sector, this development is another step in ensuring downtown Kelowna is an attractive place to live, work and play into the future.”

One of the next major projects within the plan will likely be the future of the community theatre site.

The community theatre is earmarked as the site of a future performing arts centre.

The city says the site can accommodate a larger auditorium and more extensive front, and back of house amenities. Money has been set aside in this years budget to research a range of funding sources and partnership opportunities.