How would you like to own a home without giving up any of life’s perks?
That is the intention behind a new development in Glenmore that will see 105 condominium units built at Valley and Summit Road.
Glenmore Central will also feature a 169-unit rental apartment building to meet the demand for rental properties in Kelowna.
The four partners who have joined together to launch the project are local to the area and Vice President of Traine Construction Corey Makus says his hope is to build a distinct community with young families and down-sizers who call Glenmore Central their primary residence.
With locals in mind for potential buyers, Glenmore Central is not promoting the development internationally or outside B.C. and Alberta.
Glenmore Central will also limit rentals to 30-days or longer in an effort to encourage owners to occupy the units.
“The focus by no means has been for investors — it is really providing people an opportunity for home ownership,” says Sam Brovender, with West Point Projects.
The development will be built on old Conservatory building land, which is also a natural reserve area and 50 per cent of the project will be green space.
“It is a mixed-use site and there were 10 and a half acres that we purchased two years ago,” says Makus. “There will be some town homes that will be built to the north of the site and there is a seniors resident that will be built on the open land (by other developers).”
Situated in the heart of Glenmore the development is central to downtown and UBC Okanagan. Geared to families focused on downsizing, the partners in the project have teamed up with OGO Car Share to have two vehicles placed at the building at all times.
Prices start at $189,900 for a studio , $270,000 for a one-bedroom one-bath and $344,900 for two-bedroom two-bathroom units.
The projected date of completion is sometime between spring and summer of 2019.