City of Kelowna recently finalized a deal to purchase property at 265 Leon Ave. (Photo/HM Commercial)

City of Kelowna recently finalized a deal to purchase property at 265 Leon Ave. (Photo/HM Commercial)

Courtyard next to Kelowna Gospel Mission sold to city

‘This is a strategic land acquisition by the city with no plans for the property at this stage.’

The City of Kelowna has purchased the courtyard next to the Kelowna Gospel Mission (KGM) on Leon Avenue.

Tom Wilson, with the city, confirms the price was $2.9 million, with an additional $30,000 in legal and closing costs for 265 Leon.

“This is a strategic land acquisition by the city with no plans for the property at this stage,” said Wilson. “It was bought from a third-party private landowner not affiliated with KGM.”

According to the real estate department, the city does not have any other properties in the 200-500 blocks of Leon. Real estate website HM Commercial, where the Leon property was listed, shows two other city-owned downtown sites that the municipality is looking to partner with developers on.

The former McDonald’s restaurant property at 1746 Water Street and the lot at 311 Harvey Avenue, at the corner of Water Street. The combined price for those properties is $11.275 million.

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@GaryBarnes109
gary.barnes@kelownacapnews.com

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City CouncilCity of KelownaCommercial real estateInvestingKelownaReal estate