Peachland council has warned a the developer of a property in the Lower Princeton neighbourhood to get busy building.
A rezoning application for 4607 Princeton Avenue first came to council, under a different developer, in 2020. Third reading for rezoning was finally given by council in September last year, however, required conditions have not been met for the rezoning to be finalized.
The current applicant purchased the property in fall 2022 and requested an extension to meet those conditions in September 2024. High interest rates and a stalled real estate market were the reasons given. Staff recommended three month extension.
鈥淲e feel that more than ample time has been provided,鈥� Darin Schaal, director of planning and development services, told council at its Sept. 24 meeting. 鈥淪taff are concerned with the overall amount of time this application has been in stream.鈥�
Schaal noted that the applicant is waiting on pending funding that will facilitate completion of the rezoning requirements within three months.
Councillor Rick Ingram asked if the property is currently for sale. Schall confirmed that it was put on the market shorty after third reading of the rezoning bylaw in 2023.
鈥淐ertainly there was some appreciation for the fact that did not look good, but it was always part of their intent (applicant) to look for鈥otential partners to complete the development,鈥� Schaal said.
The 2.1 acre parcel is listed on William Wright Commerical Real Estate Services website for $3.6 million.
The applicant鈥檚 rationale letter to council states it's in talks with a large development firm interested in partnering on the project, and possibly looking to break ground in spring/summer 2025.
鈥淲e are concerned about how it will look to this development group that the district would not allow an extension and that we may need to wait six months before re-applying,鈥� the letter reads in part.
If the deadline is missed it could be some time before staff could review the file.
鈥淲e have enough work to keep us going for two years,鈥� District CAO, Joe Creron pointed out.
Several councillors voiced their frustration that the file has not moved forward in four years.
鈥淲e like to see progress and something built in our community,鈥� Mayor Patrick Van Minsel said. "That is my frustration, and not only with this development.鈥�
Coun. Randy Brophey noted the district needs to do its part as well.
鈥淭here are overall considerations in general, not specific to this development but to this type of situation, where we have to improve what we require from a developer before they鈥檙e allowed to develop,鈥� he added.
Council voted unanimously to allow the three-month extension.
鈥淭his will be it,鈥� Van Minsel warned. 鈥淥nce it lapses we will close this file.鈥�
