Real estate developers partner to purchase Kelowna hotel
Published 10:28 am Thursday, September 24, 2026
Two Kelowna real estate developers has purchased a pair of adjacent properties in the centre of the city following court approval.
On Wednesday, Sept. 23, companies Traine Construction and Development and Aligned Properties announced the joint purchase of the Recreation Inn at 1891 Parkinson Way and the adjacent vacant property at 1864 Harvey Ave.
The two properties are located next to the Parkinson Recreation Centre.
“As two Kelowna-based companies, we know this area well and saw an opportunity to make a long-term investment in an exceptional central location,” said Chad Davidson, COO of Traine. “The significant investment the city is making in Parkinson Recreation Centre and the surrounding area gives us additional confidence in the long-term potential of these properties.”
Both properties were part of the portfolio of Witmar Holdings Ltd., which according to court documents is the holding company for the Weisstock family’s real estate assets.
In October 2022, the courts granted a petition by Albert Wiesstock to liquidate Witmar Holdings Ltd.
While Traine and Aligned Properties both specialize in residential housing development, they said in a press release that they do not have immediate plans to redevelop.
“We do not have a specific redevelopment timeline or finalized plan today, and we are not in a rush to determine what comes next,” Davidson said in a joint release by the two companies.
“This was an opportunity to acquire a sizeable property in a central location next to an important city investment. We believe the area has strong long term potential and that, when the time is right, the properties will support a successful redevelopment.”
The two properties are currently zoned as C2, vehicle oriented commercial, zones.
“In the near term, the partners are speaking with local hotel operators about the possibility of operating the 50-room Recreation Inn while longer-term options are considered. Hotel operators interested in discussing the opportunity are encouraged to contact Traine directly,” the release continued.