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Peachland property planned for apartments priced for sale at almost $5M

Property sold in Aug. 2020 for $1.6M
The property at 5481 Clements Avenue has been approved for a development permit for an 84-unit apartment complex. (Photo/

A parcel of land that was proposed for a large apartment complex in Peachland is up for sale.

The property at 5481 Clements Avenue, next to Peachland Elementary School, is listed on for $4,998,000. It sold in Aug. 2020 for $1.6 million according to BC Assessment.

In Feb. this year, district council approved a development permit for an 84-unit building on the site.

READ MORE: Peachland councillor still concerned over Clements apartment complex

During public question period at council’s April 18 regular meeting Moira Goodman, who ran unsuccessfully for council in the Oct. 2022 municipal election, asked if the district has received any money for the work it has invested in the project.

“What we do with some files is have the developer give us a sum of money and we hire consultants as our planners to process these types of files because we don’t have enough staff to do it,” said District CAO Joe Creron.

He added this type of scenario is always a risk and things can happen.

“People will maybe have a plan and maybe they do not want to develop they just want to get the zoning and flip the land. That’s just the way things go sometimes.”

Creron noted that the existing owner is not abandoning the project.

“He’s found somebody that does this type of work better and they’ve got a track record of doing it.”

Creron added he is concerned that the property sold for a fairly steep price.

“I sure hope that we can still proceed and get some rental properties in that area.”

READ MORE: Traffic safety concerns for Peachland council over housing development


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Gary Barnes

About the Author: Gary Barnes

Recently joined Kelowna Capital News and WestK News as a multimedia journalist in January 2022. With almost 30 years of experience in news reporting and radio broadcasting...
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