Photo: Google Street View

902 Creston Ave

The City of Penticton is purchasing another home near the South Okanagan Events Centre, while unloading a property on Ellis Street.

City council has approved the purchase of 902 Creston Avenue for $480,000 and agreed to sell the lot at 98 Ellis Street for $623,000. Both transactions were approved during an earlier closed meeting and disclosed in this week’s council agenda.

“It’s right on the outskirts of the SOEC campus, and a great investment,” said Mayor Andrew Jakubeit, referring to the Creston Avenue home. It's is the fifth home the city has purchased this year in the neighbourhood, after buying four homes on the same block in March.

As the city studies the feasibility of a new twin-rink arena at the SOEC, Jakubeit said the city is looking for new land for parking. The property was listed for sale for $488,000.

On Ellis Street, the city has sold the empty lot just north of the Chamber of Commerce. Jakubeit said the city considered the lot a “non-core” asset, and welcomed the opportunity to sell it to fund future land acquisitions.

The property was bought by Ellis Street Ventures, the same developer building a 48-unit apartment building just south of the Chamber. 

The city had also put out a call for developers to present it with plans to develop 199 Ellis Street. That request for expressions of interest closes August 7. Jakubeit said there have been “multiple” interested parties, but it remains to be seen what is formally submitted to city hall.