Monaco development approved by Kelowna city council

Third-time proves lucky for developers of the twin-tower commercial, residential and hotel development downtown.

Third time proved lucky for the developers of a proposed twin-tower high rise development in Kelowna’s downtown Tuesday night.

Following a public hearing on the project’s third version, city council approved plans for the controversial Monaco project, which will include two towers—one 22-storeys tall and the other 30-storeys tall—on top a four-story mixed-use base at the corner of St. Paul Street and Doyle Avenue.

Because of its overall size and closeness to the existing Madison residential tower, council had twice rejected previous incarnations of the Monaco project.

But when it returned to council a third time earlier this month, councillors said they liked what they saw after developers bought a thin strip of adjacent land and moved the development farther away from its neighbouring tower.

Following the lengthy public hearing Tuesday night, council approved the new plan, which provided greater separation of the Monaco towers and places them farther away from the Madison.

The project will still require some variances from the city.

In addition to 161 residential suites and a 128-room hotel in one of the towers, the development will also include 3,000-square metres of street-side commercial space and a daycare centre.

Premier Pacific Group, the developer, has  also promised to install thousands of dollars worth of public art, include a bike-share program and facilities for charging electric cars.