Vancouver developer, PC Urban, is planning to provide business spaces for multiple companies in Kelowna.
They have officially bought an 8-acre industrial site on the intersection of Enterprise Way and Dilworth Drive, one block off of Highway 97.
Small and medium-sized business owners in Kelowna will have an opportunity to purchase brand new industrial and office space in the city and build equity in their companies.
The spaces will range from 2,700 to 4,200 square feet and will feature bay doors, windows, mezzanines, natural glazing for light and high-end finishings.
“With small and medium-sized businesses thriving in Kelowna, we believe there’s a growing need for business owners to build equity through ownership in real estate,” said Garry Fawley, PC Urban principal. “The tech scene in Kelowna is exploding.
“There’s huge potential for bringing commercial strata into the industrial real estate Kelowna market where there is pent up demand.”
Last year, PC Urban launched a commercial strata project in the heart of Vancouver called IntraUrban. As in Kelowna, it was the first commercial strata within city limits in more than five years and it was a huge success, selling out before construction.
“Inventory on the market for commercial strata is very low,” said Steve Laursen from Royal LePage in Kelowna. “It’s the first of its kind within the central core of the city and the first to be built to such a high standard.”
Laursen said 15 businesses have already shown interest in the building, including some larger users in the auto parts and furniture sectors.
“People are excited to see this site reclaimed and redeveloped,” said Laursen. “The businesses moving in will be one block from the main highway and all the amenities nearby.
“It’s a perfect location for businesses to locate.”