PENTICTON – A proposed development expected to transform Front Street in Penticton appears to be no more.

Described as a stunning and exciting development blending retail, commercial and residential units, the property known as 123 Front Street was scheduled to begin construction in 2017, according to the Chase Valley Group’s website.

Chase Valley president Trevor Caine has confirmed in a media release yesterday, June 12, the property on Front Street had been listed for sale by Re/Max Penticton.

“The listing of the site was a very tough decision; our team has spent over two years working on the project and we are very excited and proud of the scheme produced,” Caine said in the release.

With several other local projects currently underway, which are worth in excess of $10 million, Caine says the company’s current workload is too high to contemplate a start on the $15 million Front Street project until late next year.

“The listing of this project will provide the opportunity for other developers to take this fantastic project forwards,” Caine said.

If no one buys the property, Chase Valley will make it a priority later next year, he said.

The proposal, which came before Penticton city council in July 2017, called for 20,000 square feet of commercial office space and 16 residential units on four lots on Front Street, the former site of Slack Alice's Show Pub.

Chase Valley Group is located in Penticton and specializes in investment properties, and management of residential and commercial assets.

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