(October 3, 2023) – Tonight at 8:20 pm, Penticton’s City Council unanimously approved an OCP amendment for the 10-acre property at 1704 Government Street. The industrial-zoned site that has been under-utilized for the past decade will now move forward under a mixed-use designation for housing, retail and office development, tentatively called: Penticton Health and Innovation District.
A combination of two developers – Stryke Group and Tien Sher Group of Companies (Richmond, BC) – have proposed constructing 11 buildings ranging from six to 12 storeys. This will result in upwards of 1,500 residential homes; plus office and retail space with the opportunity to create over 300 jobs – all located directly across the street from the Penticton Regional Hospital.
“Stryke & Tien Sher are proud to be a part of Penticton’s growth, delivering on its housing needs as well as employment space. It is clear from the city’s 2023 Housing Needs Assessment that more housing is needed, and we are happy to be able to do our part. The full project build-out will take more than ten years, and we looking to get started as quickly as possible,” says Stryke’s managing director Rocky Sethi.
There are further requirements for public engagement, and the developers acknowledge that this is just one more step forward in the project’s approval process. In the months ahead, both the City and Stryke will be working with the community on the rezoning, after which, a development permit process is also required.
“We have developed master-planned communities in Downtown Calgary, Edmonton, Whalley - Surrey City Centre and Vancouver, and I have to say, the process in Penticton is refreshing because of how efficient the process has been,” says Rocky Sethi.
In addition to delivering much needed housing, the developer is setting sustainability targets, as well as goals to promote alternative transportation methods.