This is part two of a two-part series. Part one can be read here.
Nestled between Skaha and Okanagan lakes, surrounded by mountains, vineyards, orchards and endless recreational opportunities, Penticton has long captured the attention of investors and those looking for an exceptional lifestyle.
The city is pegged as a property hotspot by several B.C. real estate firms and is in the top five of Western Investor magazine’s communities to invest in.
Anthony Haddad is general manager of community services at the City of Penticton. He says the city’s allure lies in its economic, recreation, and entertainment opportunities as well as its housing diversity.
Staff has been developing the city’s housing mix which, over the past few years, has been made up of about 20 per cent single-family dwellings and 80 per cent multi-family units. That includes duplexes, triplexes, fourplexes, apartment buildings, condominiums, secondary suites and carriage homes.
“Those forms of development, that missing middle that a lot of communities are trying to attract, we’ve seen a lot of investment in the last 10 years in this city,” Haddad says.
That investment is also part of the North Gateway Plan located in the northwest corner of the city.
“From a housing perspective, we’re looking at increasing the density that exists today, around 300 residential units, up to around 2,200 new residential units in the area at full build-out.”
The range of housing includes townhomes, apartments, condos, rental and workforce units, as well as a focus on making the area a more walkable, pedestrian, and active transportation community.
“Right on the edge of the downtown and with easy access to the rest of the community,” Haddad adds.
In 2022, city council cleared the way for a 700-unit housing project for the Wiltsie area. That development includes single-detached homes, duplexes and multi-family units. Hadadd says their housing policy is currently being updated to accommodate current and future population growth.
“The additional growth that we probably didn’t expect back in 2018. We planned for around 150 new units to be built on an annual basis and we’ve seen over 400 over the last five years.”
Penticton’s population has grown by approximately nine per cent since 2016, according to Statistics Canada’s 2021 Census. While the majority of residents are 65 years old and over (11,470), Hadadd says city-collected data (Jan. to June 2022) shows more families are moving in.
“We still have retirees moving here…and we saw approximately 120 to 130 new residents until June when we took that data. Young families and children made up just over one-third of the new arrivals in the community.”
Haddad notes that preparing for growth means continued investment to support housing needs, recreation, arts and culture, parks and infrastructure.
Economic opportunities are also drawing people to the city.
“We’re seeing a lot more home-based businesses throughout the community that reflect a lot more people working from home,” Haddad says. “With the new arrivals from around the country, the range of different food and entertainment offerings has certainly increased with new, innovative business owners coming to our community.”
He says he believes many people are noticing the opportunities in Penticton.
The city has a strong tourism and hospitality sector with events from May to September such as Ironman, Elvis Festival, Peach Festival, Peach City Beach Cruise and convention business, as well as opportunities in construction, agriculture, and manufacturing. As well, the provincial government invested $300 million in the Penticton Regional Hospital in 2016.
Penticton Regional Airport provides access to Vancouver, Calgary and Edmonton, with Kelowna International Airport just up the highway, and the city is just an hour’s drive from the US border.
“We’re not a one-industry, one-amenity community. It’s pretty unique to see the range of things that we have to offer and the range of different lifestyles in Penticton. When you put all those pieces together, and the fact we’ve been able to retain a lot of our community charm and lifestyle that have been invested in over the last 20 to 30 years, we’re pretty lucky.”
@GaryBarnes109
gary.barnes@kelownacapnews.com
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