The first phase of the Parkview Valley development in Kelowna was officially opened on July 9.
The project, by Centurion Property Associates and Ironclad Developments, is the first of five planned buildings on Benvoulin Court, eventually bringing more than 400 much-needed homes to the city.
The ribbon-cutting included representatives from the two development companies, the City of Kelowna, and the provincial and federal governments.
Stephen Marshall, executive vice president of property operations at Centurion, said the company is proud to continue expanding in Kelowna.
乌鸦传媒淲e're excited to celebrate the opening of Parkview Valley. This is our fourth location in this market, and we're excited to be here and continue to be,乌鸦传媒� he said.
Marshall thanked Centurion staff for their role in delivering what he called 乌鸦传媒渁 great place for people to call home,乌鸦传媒� noting that the company has brought 156 new rental suites online with this phase, ranging from studio to three-bedroom units.
乌鸦传媒淚n totality, we'll have 401 in this community alone, so this certainly goes part of the way in addressing the housing needs in this market,乌鸦传媒� he said. 乌鸦传媒淜elowna's had a critically low vacancy rate since we started this development, and I believe that's still the case.乌鸦传媒�
He added that the location was chosen for its accessibility to transit, jobs, shopping, and recreation.
Ironclad Developments乌鸦传媒� Chief Financial Officer, Ahileas Tsekouras, said the project is the company乌鸦传媒檚 largest to date.
乌鸦传媒淧arkview Valley is more than just a development. It's a symbol of what's possible when people can come together with the same vision and the same care and commitment to excellence.乌鸦传媒�
Tsekouras highlighted energy-efficient design choices, including solar power, EV charging infrastructure, and high-efficiency appliances.
乌鸦传媒淓very decision that we made was with the focus on the environment and the residents,乌鸦传媒� he said. 乌鸦传媒淭he amenities are second to none. The amenities within the suites are second to none.乌鸦传媒�
Residents will also have access to an amenities building that includes a fitness centre, theatre, sports simulator, pet spa, kids playroom, games room, rooftop patio with BBQs, and a lounge with a kitchen.
Kelowna City Councillor Luke Stack said the city offered a 10-year tax break on the building, part of an incentive program to boost vital rental development.
乌鸦传媒淭his would be an empty field if we didn乌鸦传媒檛 have enough incentives to attract people into this area,乌鸦传媒� Stack said.
He recalled the area乌鸦传媒檚 agricultural past, when it was the Pettit Farm.
乌鸦传媒淭hey had always, one day, hoped that it would be a community where people lived,乌鸦传媒� he said.
The 10-year tax break applies to the new construction and not the land the buildings sit on.
Once the Parkview Valley project and neighbouring developments are complete, the Benvoulin Court cul-de-sac is expected to have 1,100 homes.
乌鸦传媒淭he location that they've selected is second to none,乌鸦传媒� Stack added, pointing out the nearby Orchard Park Mall, groceries, shopping, and transit.
乌鸦传媒淧eople can very easily live in this building, work in this community, and also recreate in this area.乌鸦传媒�
Kelowna MP Stephen Fuhr also attended the event, though he noted the federal government wasn't directly involved in the project.
乌鸦传媒淏ut obviously we care about housing, and we know it乌鸦传媒檚 a problem in Kelowna,乌鸦传媒� he said. 乌鸦传媒淭his is an awesome project. Location, parking, unit sizes that are hard to find乌鸦传媒攍ike three-bedrooms乌鸦传媒攅nergy and efficiency,乌鸦传媒� he said.
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