News Releases
|
Downtown Redevelopment
- Release Date: Aug 17, 2010
August 17, 2010 The District of Peachland has signed a Letter of Intent with TNI Property Management Inc. of Peachland for the redevelopment of a block of downtown land. The block is bounded by 2nd and 3rd Streets, and by Beach Avenue and Highway 97. The District owns approximately 40% of the land in this block, and TNI Property Management owns most of the rest. Steve Allison, President of TNI Property Management, is excited about the prospect of giving a new face to Peachland’s downtown. “The opportunity to invest in my own community, provide much needed expansion to my growing company, and create long term benefits for Peachland is an exciting challenge for us to take on.” The Letter of Intent sets out how the District property may be acquired by TNI Property Management, and provides them with a period of time to prepare and submit development plans for the site. Mayor Keith Fielding says “We are very pleased to be working with TNI Property Management in this exciting initiative to revitalize downtown Peachland. Working with a local company to create new opportunities for business, residents and visitors can now happen in conjunction with the recently completed charrette process, resulting in the Sustainable Downtown Peachland Plan.” The public will be invited to provide their comments on the development proposal at a public hearing at a future date. The Letter of Understanding in no way fetters Council’s right to turn the proposal down, but instead, it provides a process for the acquisition of District property and redevelopment. |
|
|
|
|
|
|
|
|
|