February 12, 2016
New Monaco is progressing as planned towards creating Canada’s Healthiest Sustainable Community. Our subdivision application is currently under review, and we anticipate approvals within the next few months. We have a number of potential tenants that would like to expand their business to New Monaco. Once subdivision approval is complete, we will be in a position to structure tenancy agreements with them. We look forward to starting our construction in the near future.
In 2011, Peachland Town Council adopted the New Monaco neighbourhood into its Official Community Plan, supporting 2800 residential units and 250,000 square feet of commercial, retail and cultural development.
The New Monaco neighbourhood will add to the already highly desirable Peachland community by offering an innovative, mixed-use village center with shopping, restaurants, food markets, offices, a medical center, arts facilities, a full service hotel, seniors housing and vibrant public spaces.
A diversity of housing will be built into the hillside with spectacular south-facing views over 20 kilometers of Lake Okanagan. Natural areas and parks will be integrated throughout, all connected by trails and greenways.
New Monaco is a forward-looking project and sustainability is a foundation principle for all the project’s planning. In fact, we have embraced the objective of creating the healthiest neighbourhood in Canada.
We look forward to continuing to work with you in the planning and development of this important part of Peachland’s future.
New Monaco won the top award for small town planning in Canada in 2012 from the Canadian Institute of Planners.