The City of Kelowna has sold a downtown parking lot to a developer for a new highrise.
The lot at the corner of Ellis Street and Leon Avenue was bought by the city for $1.97 million in 2012. It was sold to the Mission Group for $2.6 million for a mixed-use development.
The new building, with a mix of commercial and residential space, will be at least 12 storeys tall, city officials say. Detailed plans for the project are expected to come before council later this year.