$100M for Capri revamp

Photo: City of Kelowna

It’s going to cost Kelowna taxpayers about $32 million over the next 20 years, but mayor Colin Basran says it’s the “right thing to do.”

The mayor and Kelowna council threw their support yesterday behind a massive plan to revamp the Capri-Landmark neighbourhood.

The Capri-Landmark Urban Centre Plan aims to transform the area over the next two decades through a combination of road realignments, a host of new parks, utility and infrastructure upgrades, and other measures.

The area has also been a sore point with some in the city for what they see as less-than-ideal planning that has caused congestion and confusion.

As acting city manager Joe Creron pointed out, “this area has been developing ad hoc-ly, maybe not … the way it should be," but that the plan is a “vision” that will help correct that.

To make that vibrant community happen, city staff say Kelowna will have to spend $95,250,000.

Some of that money will be recovered through development cost charges, but $32 million will come from the taxpayers.

For more on the plan, including the road redevelopment that will suck up a lot of that money, as well as why one councillor voted against it, check out the full story on Castanet's sister business news website Okanagan Edge.