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The company hoping to build a new city hall and civic centre in West Kelowna is out a good chunk of change as a result of Saturday's failed referendum.
A referendum to determine whether the city could borrow up to $7.7 million for the city hall portion of the project went down to defeat by 27 votes.
The official results will be announced Wednesday afternoon. A decision on whether to seek a recount will presumably be made soon after.
Rob Moyor, managing partner of Strategic Development Group, the company hired to build a new civic centre, said his company has spent "hundreds of thousands of dollars," over the past three years.
"We did quite a bit of design work and engineering work and so on," said Moyor.
"We did expend a pretty good chunk of money over the last three years working with the city in good faith."
Strategic Development Group has owned the property for 10 years and, if the results remain unchanged, Moyor said they would like to do something with it.
"We'll go back to the drawing board and see what we can do," said Moyor.
"Without the city, we would probably revamp the way we would develop it. It might strictly be condos there or something else. IHA and the city were contingent on each other. We'll have to deal with that once we know what happens."
