700 COTTONWOOD AVENUE - KAMLOOPS, B.C
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700 COTTONWOOD AVENUE
KAMLOOPS, B.C
FOR SALE
•• HIGH DENSITY ZONING FOR MORE INFORMATION CONTACT
•• DEVELOPMENT PERMIT READY SITE ZUBER JAMAL / zuber@williamwright.ca
•• WALKING DISTANCE TO NORTHILLS MALL, PARKS + AMENITIES JEFF BROWN / jeff.brown@williamwright.ca
•• UP TO +/- 400,000 BUILDABLE SQFT
THE DETAILS
LOT SIZE
+/- 105,119 SQFT
700 COTTONWOOD AVENUE
ZONING
CD-8
PID OVERVIEW LOCATION
026-357-933
Opportunity to acquire a 2.41 acre, mixed-use, high- 700 Cottonwood Avenue North is on the northern
LEGAL DESCRIPTION density development site in one of the fastest growing shore of the Thompson River, just over the Overlander
Lot A, Plan KAP78609, District Lot 255, areas of British Columbia. Kamloops, like many other Bridge and less than a ten minute drive from the
Kamloops Div of Yale Land District, Except
Plan KAP79046 KAP79471 & KAP79881
areas within the Thompson-Okanagan market, has downtown core. In recent years, due to market
experienced increased demand and limited supply factors and revitalization efforts, the Kamloops area
PROPERTY TAXES driving the price of real estate to historic levels. has experienced population growth and new demand
$33,934.42 Absorption rates are also expected to continue to for rental housing, condo ownership, and office and
climb with recent reports estimated at 520 new commercial space. This property is strategically
PRICE
dwelling units annually, and close to ,1300 apartment located in the North Shore Town Centre, surrounded
$9,799,000.00
units alone over the next five years. This site is one by amenities including McArthur Island Park, Northills
of the last of its size available and suitable for a wide Shopping Centre, and is minutes away from the
variety of mixed use development options. regional airport, the downtown core, and Thompson
Rivers University (TRU), making it a highly desirable
location for all.
DEMOGRAPHICS
KAMLOOPS
10 YR CENSUS POPULATION GROWTH
9,904 / 2%
AGE RANGES
North Kamloops is one of the largest and densest
neighbourhoods with 10,979 residents and approximately
HOUSEHOLDS & AVERAGE SIZE 36,815 / 2.4 PERSON PER UNIT 2,700 residents per square kilometre as of 2016, versus
approximately 300 residents per square kilometre for
the city as a whole. There were approximately 5,130
AVG. HOUSEHOLD INCOME $88,784
households in the area, which places the North Kamloops
as the third largest neighbourhood in the city.
UNEMPLOYMENT RATE
7.5%
A recent report conducted by Rennie for the Economic
Development Scoiety of Kamloops has stated "Over the
TOP 3 INDUSTRIES 23% / education, health + culture decade a growing and changing population would see the
housing stock in the City of Kamloops need to grow from
16% / trade
41,000 occupied units today to almost 47,000 by 2029,
10% / professional + business services and further to 50,400 by 2039. Put another way, in order
to accommodate the nine percent projected growth in
TENURE 72% OWN / 28% RENT the city’s population projected between 2019 - 2029, the
city’s housing stock would have to grow by almost 5,500
MONTHLY HOUSING COSTS OWN $1,240 / RENT $1,031
homes". The Pandemic, and it's impact on Real Estate in
the market has arguably increased these numbers and
HOUSING TYPE expectations going forward.
2020. DEMOGRAPHIC, HOUSING, ECONOMIC REVIEW & OUTLOOK
Kamloops. [ebook] Rennie, p.19. Available at:
[Accessed 12 May 2021].
DEVELOPMENT POTENTIAL
DEVELOPMENT POTENTIAL
Multifamily Developments on the North Shore have had very positive
reviews and interest with both The Station and The Colours developemnts
selling out, along with the current Huston development already at 50%
sold. This can be atributed the the increase attractibilty of this area in
Kamloops and the City's vision for the North Shore which includes an
update to their North Shore Developemnt Plan which will be finalized at
the end of 2021. Incentives including the Revitization Tax Excemption Plan
has helped propel this area and support both multifamily and mixed use
developments. Recent development reports show land values for low to
high density developments ranging from $39-$44 psf. The flexibilty and
range in development potential for 700 Cottonwood with its CD-8 zoning,
allow for a variety of creative options that can contribute to increasing
value on the developmental scale.
CONSTRUCTION VALUE COMPARISON MARCH 2021 BUILDING PERMITS
In April 2021, the City of Kamloops issued 42 residential building permits
valued at $7,713,915, a decrease over total permits issued in April of the
previous year at a value of $23,059,530. A total of 4 commercial building
permits were issued in April 2021 with a value of $1,749,933 compared to
the 16 permits issued in April 2020 with a value of $9,481,306.
Source: City of Kamloops via Venture Kamloops
RENTAL UNIVERSE BY BEDROOM TYPE RENT/$PSF/VACANCY RATES BY BEDROOM TYPE
Neighbourhood studio 1 Bd 2 Bd 3+ Bd Total 1 Bd Bd Total
Downtown Sagebrush 114 (19%) 382 (64%) 102 (17%) 1 (0%) 599 $931 / $1.55 / 1.1% $1,154 / $1.44 / n/a $940 / $1.53 / $1.3%
North Kamloops 15 (1%) 584 (51%) 447 (39%) 96 (8%) 1,142 $832 / $1.39 / 0.9% $970 / $1.25 / 1.7% $925 / $1.33 / 1.6%
TRU-Southgate-Dufferin n/a n/a 11 (100%) n/a 11 n/a n/a n/a
Sahali-West End 49 (5%) 436 (41%) 523 (50%) 45 (4%) 1,053 $1,054 / $1.75 / 1.6% $1,234 / $1.54 / 0.9% $1,164 / $1.64 / 1.1%
Kamloops CY 196 (5%) 1,823 (47%) 1,655 (43%) 205 (5%) 3,879 $933 / $1.55 / 1.4% $1,108 / $1.39 / 1.7% $1,019 / $1.47 / 1.7%
Rest of BC 5,730 (8%) 30,841 (44%) 29,268 (42%) 4,461 (6%) 70,300 $1,001 / $1.67 / 2.0% $1,192 / $1.49 / 2.5% $1,088 / $1.58 / 2.1%
DEVELOPMENT POTENTIAL
BUILDING 1 BUILDING 3
11 Storeys 13 Storeys
GROSS FLOOR AREA GROSS FLOOR AREA
± 79,173 SQFT ± 93,344 SQFT
± 2,109 SQFT Commercial ± 6,053 SQFT Commercial
± 2,162 SQFT Amenity/Service ± 316 SQFT Office
± 1,866 SQFT Amenity/Service
UNITS
76 UNITS
94
BUILDING 2
17 Storeys BUILDING 4
GROSS FLOOR AREA 9 Storeys
± 135,062 SQFT GROSS FLOOR AREA
± 7,602 SQFT Commercial ± 100,095 SQFT
± 3,541 SQFT Office ± 15,764 SQFT Commercial
± 4,031 SQFT Amenity/Service ± 912 SQFT Office
± 15,842 SQFT Amenity/Service
UNITS The renditions shown are only for marketing purposes and only an
123 UNITS architect's vision for the property and have not been approved by the
117 City of Kamloops. William Wright Commercial nor the Vendor makes
any warranties or guarantees of the development potential of the
Property. A Purchaser must solely rely on their own due diligence.
ZONING
BYLAW NO. 5-1-2001 54-27 BYLAW NO. 5-1-2001 54-28
Schedule "B" DEFINITIONS
Cottonwood Comprehensive Development Zone Eight For the purposes of the CD-8 zone, the following definitions apply:
The purpose of the CD-8 zone is to provide for a high density mixed-use commercial/office, Business Support Services: Development used to provide support services to businesses and
residential, and seniors housing development appropriate for the North Shore. The that are characterized by one or more of the use of minor mechanical equipment for printing,
development is designed to incorporate principles of land use and urban design as identified in duplicating, binding, or photographic processing; secretarial services; and the sale, rental,
the North Shore Neighbourhood Plan. The focus of the development is to create a strong repair, or servicing of office equipment, furniture, and machines. Typical uses include printing
pedestrian-oriented urban development which integrates the northeasterly developments of the establishments and office equipment sales and repair establishments.
Thompson-Nicola Regional District (TNRD) North Kamloops Library and the Holiday Inn Hotel &
Suites. Health Services: Development used for the provision of physical or mental health services on
an outpatient basis. Services may be of a preventative, diagnostic, treatment, therapeutic,
The CD-8 zone location is shown on the map below and incorporates four high-rise buildings. rehabilitative, or counselling nature. Typical uses include medical and dental offices,
Each building in the CD-8 zone may have different regulations as specified below. chiropractors, massage therapists, acupuncture clinics, health clinics, and counselling services.
Retail Liquor Sales: Development used for the retail sale of liquor, wine, beer, and other
alcoholic beverages. Typical uses include provincially operated liquor retail stores, licensee
retail stores, and VQA wine retail stores.
Senior Citizens' Housing: Supportive housing for the elderly, which includes minor residential
care, development of recreational/wellness activities, preparation of meals, and laundry
services. Typical uses include private and/or governmental managed housing for the elderly.
PERMITTED USES
The following uses and no others are permitted in the CD-8 zone:
Principle Use:
- Multiple Family Residential;
- Senior Citizens' Housing; and
- Senior Citizens' Housing, Light Care.
Conditional Uses:
- Business support services;
- Community care facility;
- Daycare facility;
- Financial institution;
- Health services;
- Home-based business;
- Medical office;
- Neighbourhood convenience store;
- Office;
- Recreation facility - indoor;
- Personal service;
- Professional practice;
- Residential care facility;
- Restaurant;
- Retail liquor sales; and
- Retail trade.
All as defined within Division Four - Definitions.
February 11, 2021 February 11, 2021
ZONING
BYLAW NO. 5-1-2001 54-29 BYLAW NO. 5-1-2001 54-30
REGULATIONS LANDSCAPING, SCREENING, AND FENCING
In the CD-8 zone, no building or structure shall be constructed, located, or altered and no plan In the CD-8 zone, landscaping, screening, and fencing shall comply with Division Fifty-Three
of subdivision approved that contravenes the regulations set out in the table below in which except as follows:
Column 1 sets out the matter to be regulated and Column 2 sets out the regulation. Unless
otherwise stated, the following regulations apply to the CD-8 zone. • Fencing in any street yard where required by BC Building Code to guard against a
hazard.
Column 1 (Matter to be regulated) Column 2 (Regulation)
• Open space for the use of residents shall comprise a minimum of 45% of the total lot
Maximum total number of dwelling units 415 area. Such open space shall be landscaped. Areas not comprising buildings and/or
permitted parking must be landscaped.
Minimum number of seniors units 115
Minimum/maximum building height SIGNAGE
Building 1 10/11 storeys
Building 2 15/17 storeys All signage must be complimentary to the overall building design. Freestanding signs are not
Building 3 12/13 storeys permitted.
Building 4 8/9 storeys
Minimum/maximum commercial floor area (m2) UTILITY KIOSKS
Building 1 150/225
Building 2 650/725 Utility kiosks cannot be located within 6 m of a municipal road and must be screened from view
Building 3 525/600 using landscaping, screening, or fencing.
Building 4 0/50
Maximum commercial floor area per unit in any 200 m2 LIGHTING
building
Minimum/maximum office floor area (m2) All sources of artificial light must be arranged in such a manner as to be contained on the
Building 1 0/50 property and not impact adjoining parcels of land.
Building 2 300/350
Building 3 25/35 SPECIAL CONDITIONS - BUILDING HEIGHT
Building 4 65/100
Maximum site coverage, including parking 55% Building height will be limited to a maximum of 13 storeys until such time as a minimum of
areas and driveways 150 multiple family residential and/or senior citizens' housing light care units have been
Minimum front yard setback (Cottonwood Drive) 4.0 m constructed and issued occupancy.
Minimum side yard setback 4.5 m
Minimum side street yard setback (Renfrew 1.2 m
Lane)
Minimum rear yard setback 3.5 m
Maximum number of buildings 4
PARKING
In the CD-8 zone, off-street parking shall comply with Division Fifty-Two except as follows:
Residential
1 Bedroom 1.0/unit
2 Bedroom 1.25/unit
3 or More Bedrooms 2.0/unit
Seniors Light Care 0.5/unit
Visitor additional 10%
Commercial 3 parking stalls/100 m2 GLA
Office 3 parking stalls/100 m2 GLA
February 11, 2021 February 11, 2021FOR MORE INFORMATION CONTACT
ZUBER JAMAL
zuber@williamwright.ca
604.546.5555
HUSTON DEVELOPMENT
JEFF BROWN
NORTHILLS SHOPPING CENTRE jeff.brown@williamwright.ca
SUBJECT PROPERTY
236.420.3558
MCARTHUR ISLAND PARK
SUBWAY
THE PRINTING PLACE
SPEEDY GLASS
TIM HORTONS
JOHN TODD COMMUNITY CENTRE
COLOURS DEVELOPMENT
HATSUKI SUSHI
NORTH SHORE PRIMARY CARE CENTRE
THOMPSON RIVER
STATION DEVELOPMENT
William Wright Commercial Real Estate Services has prepared this document / email for the sole purposes of advertising & general information. William Wright Commercial Real Estate Services & it’s listing clients make no guarantees or warranties of any William Wright Commercial Real Estate Services Inc.
kind, expressed or implied, regarding the information including but not limited to, warranties of content, accuracy, completeness & reliability, & do not accept or assume any responsibility or liability, consequential or direct for the recipient’s reliance upon
the information. Any recipient / interested party should undertake their own appropriate & independent due diligence & inquiries as to the accuracy of the information, which is subject to errors, omissions, changes, including price, or withdrawal without #210-8029 199th Street, Langley
notice. Sizes are approximate & based on architectural measurements. William Wright Commercial Real Estate Services and it’s listing clients exclude unequivocally all inferred or implied terms, conditions & warranties arising out of this document and T 604.546.5555 | F 604.546.5556
exclude all liability for loss & / or damages arising there from. This publication is the copyrighted property of William Wright Commercial Real Estate Services & it’s listing client. © 2021. All rights reserved. E.&O.E. This communication is not intended to
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