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Kelowna City Council Unanimously Approves New 106,000 sq' Okanagan Centre for Innovation (OCI) Building for Downtown Kelowna
Thursday, July 24, 2014
Vancouver, BC, July 24, 2014--(T-Net)--The Okanagan Centre for Innovation (OCI), proposed for Kelowna's Downtown Cultural District moved closer to reality earlier this weeek when it received unanimous approval for a development permit from Kelowna City Council.
The OCI is an initiative to develop a 9,848 m2 (approximately 106,000 s.f.) building at the corner of Doyle and Ellis, next to the Downtown Kelowna Branch of the Okanagan Regional Library in the heart of Kelowna's Cultural District. It is dedicated to supporting innovation, technology industry and entrepreneurial growth within the Okanagan Valley.
“This approval brings us a step closer to achieving our goal of creating a state-of-the art innovation and technology incubator in the Central Okanagan” says Jeff Keen, project spokesperson. “Support for the concept from both the community and the market has been very strong and once our financing arrangements are complete we can start to make firm commitments to prospective tenants and move forward with construction.”
The City of Kelowna, which owns the property on which the Centre will be developed, has been open to working with the proponents since the proposal meets the goals established for the downtown. The City will retain ownership of the land and a portion of the space within the project.
“Building on the momentum of other downtown initiatives, Council's priorities this term included exploring a technology centre to aid in the continuing revitalization of Downtown,” said Mayor Walter Gray. “The City supports driving the knowledge economy, innovation and entrepreneurship, which in turn will create high paying sustainable jobs.”
The project was conceived by a diverse group of community, civic and academic leaders including representatives from private industry, Okanagan College, UBC, Accelerate Okanagan, and the Central Okanagan Development Commission. It is designed to offer market commercial space as well as public space and services to startup and early-stage companies, community members, non-profits, and social enterprises through the non-profit Kelowna Innovation Society.
Other benefits that come with the project include the opportunity to continue the trajectory of downtown revitalization that has long been a focus for the community and the ability to enhance the Library's role as a major community asset through the potential for providing direct connectivity with the OCI.
Construction is expected to follow completion of funding arrangements later this summer with completion is targeted for early 2016.
For more information, please visit the OCI website or contact Mary Lapointe: mary@okanaganinnovation.com or 250-826-7670.
News Source: Accelerate Okanagan
http://www.accelerateokanagan.com/