Wayne Moore, Castanet — The buildup on Dougall Road in Rutland from a single-family neighbourhood to a more densified area will continue following the sale of a block of properties earlier this week.

Jeff Hancock with William Wright Commercial says the sale was completed on a four-lot assembly at 495 Dougall Road.

The properties were sold to Troika Developments for $4.5 million.

“The 0.79-acre site located in the heart of Rutland will add to our client’s impressive multi-family pipeline and continue to enhance this area of the city with high quality multi-family buildings,” Hancock stated in a news release.

“While land development transactions have been challenging this past year, it was great to see a willing seller and buyer come together on one of the few land development transactions in Kelowna this year.”

The site is expected to be developed as a purpose-built rental development similar to about a half dozen projects within the area that have either been built, are under construction or in the city’s pipeline.

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Read the full article published by Castanet.