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Kelowna  

Monaco ready to rise

Premier Pacific Group, developers of the Monaco project in downtown Kelowna hope to finally have shovels in the ground by early fall.

That's eight years after the development, which will rise with towers of 22 and 30 storeys, was first conceived.

Corporate VP, Tyler Dueck expects the project to take about 30 months to complete.

"It's been a long road but I think judging by the appeal we have gotten through the market, we think it's going to be well worth it in the end," says Dueck.

"We've been in it since 2006, 2007 with several different plans and when it came to the public point we've done three different designs."

The development, set for the corner of Doyle Avenue and St. Paul Street, beside the Madison and across from the new proposed Interior Health building, will feature 161 condo units and 128 hotel units.

The two towers will rise above a four storey podium which will include 35,000 square feet of commercial space and over a half acre of green space.

"The green space includes two pools, one for the condo and one for the hotel, a little bit of a running track, putting green and foliage."

Dueck says Premier Pacific still has to satisfy a couple of requirements before it is issued a development permit.

He expects those to be finalized in time to begin digging in early October.

As for reaction to the project, Dueck says there has been quite a bit of interest.

"We are happy with the sales registrations that we have been getting. Throughout the summer we had quite a bit of interest," says Dueck.

"That's positive for us and I'm sure positive for the Kelowna market."

He adds once a disclosure statement is made they will begin with pre-sales.

Dueck expects that to begin in about a month and half.

 

 

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