Downtown Hotel to contribute $112 million to economy 

Urban Development Institute Sign Program Reveals Positive Economic Benefits of Development

 

Kelowna, BC,  – The Urban Development Institute (UDI) Okanagan Chapter is pleased to announce the enrollment of the Westcorp’s downtown hotel into the UDI Okanagan Building Our Community Sign Program.

The proposed Downtown Hotel is a 205 room boutique hotel with between 12,000 and 15,000 square feet of meeting and conference space, and a full range of guest services and amenities.  The project is expected to contribute $112,000,000 in economic impact, 540 (full-time equivalent) construction jobs, 224 (full-time equivalent) long-terms jobs and an annual expenditure by guests of $20,800,000.

Westcorp is the developer behind the proposed downtown hotel.  According to Gail Temple, VP Stakeholder Management with Westcorp, “As community builders, we decided to enroll in this program because we believe that it’s important to showcase the positive contribution that our development, and the development industry in general, has on the community.”

According to Andrew Bruce, President of UDI Okanagan, “We are pleased that more of our members are enrolling into the program and communicating the positive benefits that responsible growth has on our community.  We are also hoping that momentum for this program will continue to build as we believe it’s an important message to get through”.

The UDI Sign Program allows any UDI Okanagan member developer to pay a small fee to enroll one or more of their developments into the program.  Developers choose to showcase a variety of economic, community or environmental benefits associated with their particular development.  One of the key features of the program is that all benefits featured on the sign need to be verified by a qualified UDI Okanagan appraiser/verifier/CA firm member.

For more information about the Building Our Community UDI Okanagan Sign Program or to view a list of enrolled projects, visit www.udiokanagan.ca

The Urban Development Institute (UDI) is a national association (with international affiliations) of the development industry and its related professions.  The corporate members of the UDI – Okanagan Chapter represent hundreds of individuals involved in all facets of land development and planning, including: developers, property managers, financial lenders, lawyers, engineers, planners, architects, appraisers, real estate professionals, local governments and government agencies.

As a Partner in Community Building, the UDI Okanagan is committed to working with communities and governments to create and achieve the vision of balanced, well-planned, sustainable and affordable communities.

For more information contact:

Andrew Bruce, President, UDI Okanagan

250-717-8390

 Downtown Hotel Sign