On Friday, at an event that was held at the Okanagan Falls Structurlam, a manufacturer of cross laminated timber, plant, the Penticton Lakeside Resort announced that a group of business partners are interested in building what would be the tallest wood building in the world at the site currently home to the Lake City Casino.

The 20-story tower would be built next to the Penticton Lakeside Resort upon relocation of the casino to the South Okanagan Events Centre complex, where the new Cascades Casino Penticton is expected to be completed by spring 2017.

Elizabeth Cucnik, the daughter of Penticton Lakeside Resort’s general manager David Prystay, said, “We are incredibly positive and optimistic that this is going to go through,” and, “We have to get all our ducks in a row and make sure everything is OK with the city, so there is some hoops we have to jump through, but we are very positive and very optimistic,” according to the Penticton Western News.

Prystay disclosed more details on the proposed project, which calls for luxury-style condominiums and possibly some hotel space, on Monday, stating that the project remains in “concept” phase and that more information would be released formally in the approaching months. Prystay also said that earlier an earlier announcement for a plan to convert the site currently occupied by the casino into a convention center remains a part of the concept which includes the 20-story tower. Last October, RPB Hotels announced it would be ending its long-standing lease with the casino at the resort.

Construction began on May 2 for the Cascades Casino Penticton, which is being developed by Gateway Casinos & Entertainment. The casino will include a large gaming floor, approximately 45,000 square feet, with entertainment and several full-service dining options, including the Public House and Match Eatery. Also included are plans for a rooftop patio. As many as 150 new jobs are expected to be created by the project, which will inject $25 million into the Penticton economy.

One of Western Canada’s largest casino and entertainment companies, Gateway Casinos & Entertainment Limited operates 12 casinos in Alberta and British Columbia and has more than 3,000 employees. Its properties include The Grand Villa Casino & Convention Centre Burnaby, Starlight Casino New Westminster, and Cascades Resort Casino Langley to name a few.