Kelowna Real Estate Market Heats Up!

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Kelowna Real Estate Market Heats Up!

Promontory Presentation Centre is open Wed - Sun from noon - 5pm or by appointment.

As we wrap up sales for Phase One townhouses at Promontory Kelowna, it comes as no surprise to us that local real estate expert Andrew Gaucher predicts the strengthening of Kelowna’s housing market in the coming months.

Phase One sells out in one week

At Promontory this past week, we saw hundreds of realtors, clients, and neighbours through our presentation centre. Everyone expressing excitement at the location, the amenities (Hello!! Solar panels installed in every unit!) and the price point. That excitement translated in a sold-out Phase One within the first few days of launch.

Register now for information on our Phase Two launch

Kelowna market sees upward movement

“Historically, there has been ~24-30 months of contraction before the market slowly moves upwards toward the past peak [of the market cycle]. We are approximately 24 months from the past peak here in May 2017, which was the fastest moving month ever in Kelowna.” Not only does Andrew’s prediction of the nearing end to the contraction period bode well for the Kelowna market, but they are likely going to see a longer than standard expansion period. Read more.

Promontory developer Bob Fraser of Evest Funds is thrilled with the results. “Our team has worked really hard to get to this point. We had to be creative to stand out in this market and clearly what we’re doing is working! I have complete confidence we’ll see the public take an even greater interest in the next phase of Promontory as they learn more about our unique offerings.”

Phase Two Launching August 17, 2019

Stay tuned for more information on Phase Two at Promontory Kelowna launching August 17th.   

For the most current information visit us on Facebook at www.facebook.com/promontorykelowna

Register now for information on our Phase Two launch

Townhouses for sale in Kelowna, BC

Register today for floorplans and pricing

 

665 Boynton Place, Kelowna, BC

Presentation Centre: Wed – Sun 12 PM – 5 PM or by appointment

(250) 685-8811  |  info@promontorykelowna.com

Promontory presentation centre launch day

CALL TODAY TO LEARN MORE - 1.250.685.8811

Promontory presentation centre launch day

Visit us in beautiful Kelowna, BC

Hours: Wed – Sun 12 PM – 5 PM or by appointment

Call (250) 685-8811 to make an appointment!

CONDOMINIUMS & TOWNHOMES for sale in Kelowna, BC

Nestled in one of Kelowna’s most desirable neighbourhoods overlooking Kelowna Golf and Country Club, Dilworth Bluffs and the City Center

  • Southeast slope of Knox Mountain
  • 5 minutes to Downtown core, shops, waterfront
  • Overlooking Kelowna Golf & Country Club, Dilworth Bluff and central Kelowna
  • Adjacent to prestigious Highpointe Terraces
  • Across the street from Knox Mountain Park (greenbelt/hiking/  biking)
  • Close proximity to Big White ski resort

Each home in the Promontory community comes with solar panels installed. Offsetting annual energy costs by as much as 2800 kWh/yr.

Register today for floorplans and pricing

 

665 Boynton Place, Kelowna, BC

Presentation Centre: Wed – Sun 12 PM – 5 PM or by appointment

(250) 685-8811  |  info@promontorykelowna.com

Grand Opening – Taste of Promontory

CALL TODAY TO LEARN MORE - 1.250.685.8811

Promontory_6x9_Rack_banner

Grand Opening - Taste of Promontory

Join us for food, live music and tours of the newest development in Kelowna’s Knox Mountain neighbourhood.

Saturday, July 27, 2019 at 12 PM – 5 PM

Address: 665 Boynton Place, Kelowna, BC

Call (250) 685-8811 for more information

Learn more about Promontory

CONDOMINIUMS & TOWNHOMES in Kelowna, BC

Coming in 2019 | Launched in July 2019

Nestled in one of Kelowna’s most desirable neighbourhoods overlooking Kelowna Golf and Country Club, Dilworth Bluffs and the City Center

Promontory townhome in Kelowna rendering

Register today for floorplans and pricing

 

665 Boynton Place, Kelowna, BC

Presentation Centre: Wed – Sun 12 PM – 5 PM or by appointment

(250) 685-8811  |  info@promontorykelowna.com

Promontory presentation centre arrives!

CALL TODAY TO LEARN MORE - 1.250.685.8811

Promontory presentation centre arrives!

Hours: Wed – Sun 12 PM – 5 PM or by appointment

Call (250) 685-8811 to make an appointment!

Register today for floorplans and pricing

 

665 Boynton Place, Kelowna, BC

Presentation Centre: Wed – Sun 12 PM – 5 PM or by appointment

(250) 685-8811  |  info@promontorykelowna.com

Promontory taps into Okanagan sunshine

Promontory townhouse interior

CALL TODAY TO LEARN MORE - 1.250.685.8811

Promontory townhome interior

Promontory taps into Okanagan sunshine

MICHAEL BERNARD

Promontory, which is opening its presentation centre on the property on June 19, is a phased development of 120 one-level and stacked townhomes overlooking Dilworth Bluff and Kelowna’s downtown.

Register today for floorplans and pricing

A developer building a townhouse project on Kelowna’s Knox Mountain says the homes offer an unbeatable combination of excellent location and prices, plus an opportunity for buyers to nearly eliminate their utility bills by harnessing solar energy.

Promontory, which is opening its presentation centre on the property on June 19, is a phased development of 120 one-level and stacked townhomes overlooking Dilworth Bluff and Kelowna’s downtown, says Bob Fraser, who is developing the property.

The homes, which will be built in phases with the first group of homes completed by winter 2020, will be constructed in separate buildings of between nine and 11 units in a neighbourhood of upscale single-family homes. While some townhouses will be stacked three-level homes, one-level townhouses will be built on the upper reaches of Promontory’s property, he said.

All homes will come with stainless steel appliance packages, quartz countertops and luxury vinyl planking flooring in the living areas. The development also takes advantage of the Okanagan’s legendary sunshine. “We are planning to put a solar system on the property and it’s going to be quite a robust system,” Fraser said. “I think we are unique in having location, price point and innovation. It is one of the first green and clean (multi-family) solar projects out there.”

Fraser, who has been building homes throughout B.C. for more than 25 years, said the solar energy system will feature solar panels on each roof of the development. There will be a minimum of four panels in the “builder’s package” that will supply sufficient power to heat and cool the homes without relying on utility companies. Additional panels will be offered to provide energy for the stove and other appliances, including an air-purification system. Also being offered is the option of installing an electric car charger, which will draw energy from the solar panels. The solar panels will come with a 25-year warranty.

Buyers will also have the option of having installed lithium batteries that would enable them to store energy that would see them through a four or five-day interruption in power supplied through the local power grid, Fraser said.

So far, Promontory has attracted a lot of interest from investors, mainly from Metro Vancouver, with nine contracts for homes already signed and nine more awaiting finalization, Fraser said. Investors, who are paying an average price of $350,000 for a two-bedroom home, are attracted to Kelowna’s strong economy and low vacancy rate, hovering around 1.2 per cent.

Todd Farrer, Promontory’s sales director, said the development is also drawing interest from local first-time buyers, as well as young people considering a move to the Okanagan from Metro Vancouver.

“We have young people who don’t own anything in Vancouver who are looking to move to Kelowna to purchase a nice home in a great location,” he said. He said they know they will be able to move here and get a job and make the same amount as they would in Vancouver after their lower expenses are taken into account.

The development will ultimately feature walkways, lawns, and landscaped areas, including a community garden, gazebo, and children’s play area. There are nine layouts available, ranging in size from 460 to 1,348 square feet.

Aldergrove’s Dawn Krepinak and her husband first heard of Promontory when they attended the B.C. Home Show in Vancouver earlier this year. They ended up purchasing an 839-square-foot unit with one bedroom and a den.

“Ours is purely an investment. If the rent can cover the mortgage, then we thought we should try it. And if the rent is going to help with our retirement, then we should go for it,” she said. The couple figured a home with one bedroom and a den townhouse was their safest bet because it gives a tenant the option of taking in another in the den if it was necessary to reduce rental costs.

Promontory

Project address: 685 Boynton Place, Kelowna

Project scope: a total of 120 one-, two- and three-bedroom one-level and stacked townhomes on Knox Mountain overlooking Kelowna Golf and Country Club, Dilworth Bluff and downtown Kelowna, a five-minute drive away

Prices: homes range from 460 sq. ft. to 1,348 sq. ft. with prices starting at $249,900 and ranging up to $539,900

Developer: Promontory Developments Inc.

Architect: Riddell Architects

Interior designer: Hatch Interior Design

Sales centre: 685 Boynton Place, Kelowna

Hours: noon — 5 p.m. daily (opens June 19)

Sales phone: (250) 685-8811

Website: https://www.promontorykelowna.com

First phase completion: Winter 2020

Register today for floorplans and pricing

 

665 Boynton Place, Kelowna, BC

Presentation Centre: Wed – Sun 12 PM – 5 PM or by appointment

(250) 685-8811  |  info@promontorykelowna.com