A major development in downtown Kamloops is set to break ground early next month — and it will rise a bit higher than initially planned.
A&T Project Developments principal Frank Quinn said The Hive project has received confirmation of financing and will break ground on July 7.
Quinn noted it is a significant investment in downtown Kamloops, a project that has grown from the initial five-storey office building with a $20-million budget to a s$27-million six-storey structure.
The plan is to eventually have three office buildings rise in the parking lots to the immediate north and east of the Delta Kamloops Hotel, between Victoria and Lansdowne streets and Fifth and Sixth avenues.
Quinn said the decision to add a floor and increase the budget resulted from high demand for the space. The project is expected to take between 18 to 24 months to complete and Urban Systems will be an anchor tenant in the first building, with Kamloops law firm McMillan Dubo Law Group the second notable tenant, with the firm set to move into 5,000 square feet of space.
Quinn said that even prior to WorkSafe’s BC’s pandemic-related rules in place at job sites, strict precautions were put in place by the company for construction sites.
The Hive will feature brick, wood-like panelling and extensive glazing. It will also have balcony spaces on each level, secured indoor bicycling storage and an outdoor bike rack. In addition, the project will include two levels of secure underground parking, an electric veheicle charging station and shower and change room facilities.
The Hive project falls within the city’s revitalization tax exemption area, which was recently amended by the city to include commercial space, and the property improvements will be eligible for a 10-year tax exemption. The project has been designed by Vancouver-based architects MCM and will be built by A&T and run by Invictus Properties, owner of the Delta Hotel.