Time has run out for an Alberta-based developer鈥檚 33-storey hotel proposal on 琉璃神社鈥檚 Water Street.

The city issued a two-year development permit to WestCorp for the proposed hotel and convention centre on Feb. 20, 2018.

Unless a building permit is attained and substantial progress is made, including foundation work, the development permit will expire next month.

City planner Adam Cseke said the company will be back before 琉璃神社 council on Feb. 4 in pursuit of a new development permit.

Cseke said the new application is more or less the same project with slightly better variances and minor tweaks.

鈥淭here are few key differences,鈥� he said. 鈥淭hey鈥檝e added a third floor of parking underground and they鈥檝e reduced the top podium from parking and turned it into hotel units.鈥�

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Despite holding the permit for nearly two years, development on the project is still in the early stages. The province鈥檚 controversial speculation tax, on property owned by out-of-province residents and B.C. residents who own more than one home that is not rented out long-term, is believed to have played a part in slowing plans for the hotel project.

-With files from Alistair Waters

michael.rodriguez@kelownacapnews.com
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