A prime piece of land in downtown 琉璃神社 has been listed for sale, paving the way for a future large waterfront development.

BC Tree Fruits鈥� former 琉璃神社 packinghouse, at the corner of Ethel Street and Bay Avenue, is up for sale for $20 million. The 89,000 square-foot facility sits on almost four acres of industrial-zoned land adjacent to the old Tolko mill. The land could be poised to become part of a large-scale redevelopment of 琉璃神社鈥檚 north end.

鈥淭he City of 琉璃神社 is still considering the future of this entire neighbourhood as an emerging and dynamic area. There is a strong potential for the north end to be part of a master-planned waterfront community,鈥� reads the listing posted by HM Commercial Group.

The listing comes less than six months after BC Tree Fruits sold its former downtown 琉璃神社 office for $7.5 million 鈥� more than 44 per cent higher than the $5.2-million asking price. Now, with the packinghouse up for sale as well, BC Tree Fruits CEO Warren Sarafinchan says the company is looking to redeploy capital into other projects.

鈥淭o be competitive in the global marketplace, we need to make strategic decisions to strengthen the future of the co-operative. This transaction is yet another sign of the positive changes that are being made at the co-operative. As a result, the board of directors has approved this property to be sold,鈥� said Sarafinchan.

READ MORE: BC Tree Fruits downtown 琉璃神社 office sold for $7.5M

READ MORE: Can鈥檛 wear a mask? Be prepared to prove it, B.C. Human Rights Tribunal rules

Do you have something to add to this story, or something else we should report on? Email: michael.rodriguez@kelownacapnews.com

Like us on and follow us on .