Two developments pull the pin

Wayne Moore - Jan 20, 2009 CASTANET:
Two developments, previously approved by Kelowna Council, have been put on the shelf, at least temporarily. Developers for a 13-unit apartment complex at 1094 Lawson Avenue and a 22-unit apartment at 644 Lequime, have both informed the city they will not be going ahead with the projects. Urban Land Use Manager, Danielle Noble, says the developers in each case are looking to rescind development and variance permits in order to release the security deposit on the subject properties. "At this point in time, the applicants are seeking to release the servicing and landscape bonding relating to the development permit or variance permits," says Noble. "It is necessary to rescind the development permit in order that staff can release the associated bonding. It's more of a formality."

With the prospect of other developments being terminated due to the current economy, council did have some concerns about the process of bringing back these developments when economic conditions improve. Noble says it is not possible to allow a development permit to just sit idle. "The zoning obviously stays with the property, but should they pursue a development either under the current owner or it gets sold and a new applicant comes forward, they have to go through the process as would any other applicant." She did indicate development applications that are brought back after initial approval had been given would require less time and therefore fee structures could be changed to reflect the time involved. Staff is currently in the midst of creating a policy to reflect these situations. Meantime, Councillor Luke Stack, says its important council be apprised of these types of withdrawls.

"Today we have two nice apartment building projects that have been put on the shelf for various reasons and it's important we all know that because it is an indication of the changing economy," says Stack. "It's important we keep our finger on the pulse of what's happening in the community. One of the advantages of having it come before council is it gives us an opportunity to see some of the changes that are taking place in the marketplace."