The Kelowna Crossroads Challenge is aiming for a document $ 80 million for TIF | to native enterprise information
New sidewalks, curbs, landscaping, and interactive art should encourage pedestrian flow and connect with the neighborhood, Beller said.
The city planning department has recommended approval of the TIF price of $ 79.4 million. The “massive financial enterprise” would not be possible without the use of such urban incentives. Director Dave Fanslau said in a memo to the members of the planning committee that the company is helping to meet Infill’s redevelopment goals and to promote public transportation.
In addition to TIF, the planning authority will examine further financial, layout and zoning issues related to “The Crossroads” on Wednesday. The highlights of the TIF application include:
The total price previously estimated at $ 500 million is estimated at $ 553,868,000.
The largest proportion of the 1.72 million square feet of new construction space is residential – 374 market-oriented apartments and 222 senior citizens’ housing units.
The Crossroads Mall is to be demolished to make way for “The Crossroads”, although the nearby destination and the park structure will be retained.
CHRIS MACHIAN, THE WORLD HERALD
Other allocation of space: 526,000 square meters of gross office space; 239,000 square feet of retail space; 170,000 square meters of hotel; 156,000 square meters is focused on entertainment and fitness, 4,900 parking spaces.
The 2,200 stalls garage north of Target (the only store on site that remains intact) is slated to be completely renovated.
Around 1,779 full-time and 1,475 part-time positions (including cooks, event coordinators and retail employees) are to be created to run the campus.