{"id":7550,"date":"2025-07-24T18:00:00","date_gmt":"2025-07-25T01:00:00","guid":{"rendered":"https:\/\/staging.infonews.ca\/?p=7293328"},"modified":"2025-07-24T18:00:00","modified_gmt":"2025-07-25T01:00:00","slug":"vernons-tiki-village-motel-pitched-to-developers-for-6m","status":"publish","type":"post","link":"https:\/\/staging.infonews.ca\/inhome\/news\/7550\/vernons-tiki-village-motel-pitched-to-developers-for-6m\/","title":{"rendered":"Vernon’s Tiki Village motel pitched to developers for $6M"},"content":{"rendered":"\n

Vernon’s Tiki Village Inn Motel is up for sale, with the realtor pitching the prospect of the site being used for 180 multifamily apartment units.<\/p>\n\n\n\n

The Tiki Village Motel is on the market for $6-million with the sale including six nearby homes.<\/p>\n\n\n\n

The listing by Marcus and Millichap<\/a> says the site is being presented as a “blank canvass” and the land would need rezoning for a high-rise apartment to be built.<\/p>\n\n\n\n

“The fully assembled, well-located, and flat site has plans in place for 180 multifamily apartment units across two 90-unit buildings with ground-level surface parking,” the realtor’s website says. “Multifamily sites of this scale near the downtown core in Vernon are rare. Located along 25 Avenue, a main thoroughfare in Vernon, the site is within walking distance to shopping, schools, and amenities.”<\/p>\n\n\n\n

The ad says that Vernon has not seen as much multifamily rental development as other nearby towns and cities and “boasts” a current one per cent vacancy rate.<\/p>\n\n\n\n

\"|\"
Tiki Village Development Site
Marcus & Millichap<\/figcaption><\/figure>\n\n\n\n

The motel, whose tag line is “A Taste of Polynesia in the Heart of the Okanagan” sits on a 2.64-acre site which is priced at $2,270,978 per acre.<\/p>\n\n\n\n

Pitched to developers and investors, the ad says preliminary design plans are available detailing a two-building 180-unit multifamily development totalling 180,170 square feet of buildable area and 145,200 square feet of net leaseable space.<\/p>\n\n\n\n

The well-known motel has been a landmark in the centre of Vernon for decades and the ad says the motel generates an annual holding income of approximately $289,000.<\/p>\n","protected":false},"excerpt":{"rendered":"

The motel in the centre of Vernon has been around for decades.<\/p>\n","protected":false},"author":292,"featured_media":7551,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"guid":"","source":"","byline":"","published":"","updated":"","_infotelid":"","_prepressid":"","_multisite_post_sync":null,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1680,541,543],"tags":[],"region":[322,323,324,325],"class_list":["post-7550","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-local","category-topnews","region-kamloops","region-kelowna","region-penticton","region-vernon"],"blocksy_meta":[],"jetpack_featured_media_url":"https:\/\/staging.infonews.ca\/inhome\/wp-content\/uploads\/sites\/4\/inhome-hd-mediaitemid109981-5794.jpg","post_modified":"2025-07-24T18:00:00","post_modified_gmt":"2025-07-25T01:00:00","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/staging.infonews.ca\/inhome\/wp-json\/wp\/v2\/posts\/7550","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/staging.infonews.ca\/inhome\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.infonews.ca\/inhome\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.infonews.ca\/inhome\/wp-json\/wp\/v2\/users\/292"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.infonews.ca\/inhome\/wp-json\/wp\/v2\/comments?post=7550"}],"version-history":[{"count":0,"href":"https:\/\/staging.infonews.ca\/inhome\/wp-json\/wp\/v2\/posts\/7550\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/staging.infonews.ca\/inhome\/wp-json\/wp\/v2\/media\/7551"}],"wp:attachment":[{"href":"https:\/\/staging.infonews.ca\/inhome\/wp-json\/wp\/v2\/media?parent=7550"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.infonews.ca\/inhome\/wp-json\/wp\/v2\/categories?post=7550"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.infonews.ca\/inhome\/wp-json\/wp\/v2\/tags?post=7550"},{"taxonomy":"region","embeddable":true,"href":"https:\/\/staging.infonews.ca\/inhome\/wp-json\/wp\/v2\/region?post=7550"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}