The old Kelowna Costco property has been sold. According to BC Assessment’s website, the 11-acre property at 2479 Highway 97 N sold on April 13 of this year for $31.2 million. The property has been home to Costco since 1991, but after outgrowing the site, the big box store moved to the corner of Leckie and Springfield streets in February of this year. The BC Land Title and Survey Authority lists the new owner of the property as Victor Projects Ltd. The local development company is chaired by Mary Jean Bennett, of the well-known Bennett family of the Okanagan. The company boasts a long list of local development projects including McCurdy Corner Centre, Orchard Place Mall, Guisachan Village and Kelowna’s Superstore. The most recent appraisal of the former Costco property was $31,207,000 – $27,114,000 for the land and $4,093,000 for the building. That estimate was nearly $2.5 million more than the previous year. Victor Projects also previously owned the site where the new Costco building now stands, and it appears that Costco and the local developer have essentially swapped ownerships. The most recent appraisal of the new 14.7 acre Costco site is $35,453,000. Castanet reached out to Victor Projects for more information on its plans for the recently purchased property.