A plan to provide city land for a downtown high-rise should be put on hold, a Kelowna citizens' group says.
The municipality isn't getting a sufficient benefit from the proposal, which would see a tower and commercial complex built at 350 Doyle Ave. near the downtown waterfront, the Kelowna Legacy Group says.
The group calculates the benefit of the proposed 99-year lease to the city at less than $2,800 a month.
"In our opinion, this is a virtual give-away," the group says in a release, in which it asks council not to proceed with the proposed lease.
Instead, the group says, the city should invite the public to participate in creating a "greater vision for this iconic piece of land within our downtown core".
Last month, the city announced it had chosen a company to build a new development on the site, formerly the headquarters of the Kelowna RCMP.
Plans show a residential tower of at least 13 storeys, but possibly more, along with a 6,000 square foot cultural space, a new civic plaza, and an extension of the Artwalk through to Doyle Avenue.
The city intends to provide the site to RISE Commercial through a 99-year-lease said to have a value of $7 million. But the company will build the public-use components of the project at its own expense, estimated to be $4.3 million, so the city will actually net $2.7 million from the transaction.