The 25storey tower will boast 178 units
The Brooklyn at Bernard Block tower hasn't even begun construction yet, but developers say they've already sold out 70 percent of its units.
Mission Group, the organization behind the project, says 80 percent of those sales have come from buyers in Kelowna or the Greater Vancouver area, with others coming from as far away as Alberta or Saskatchewan.
The tower will stand 25-storeys high, with the first 24 reserved for residential units, while the top storey will feature a rooftop terrace and club-lounge. In total, there will be 178 units, with the average price being in the mid-$300,000 range.
Luke Turri, Vice President of Development at Mission Group, says this is just one phase of a Master Plan for the block.
"We've got two more phases to this, both of them being on Bernard Avenue," says Turri. "We don't have a timetable for those, but there will be certainly be two buildings there, and then a full retail podium along Bernard."
When it comes to property developments in the Central Okanagan, several have been put on hold indefinitely due to potential investors and homebuyers being wary of the NDP's proposed speculation tax, but Turri says that hasn't had a significant impact on the development of the Brooklyn.
"Sales have been good, and I would expect them to have been better without a speculation tax," says Turri. "The predominant user at the Brooklyn at Bernard Block tower is someone who is either going to live in the home or rent it long-term, and both of those categories would be exempt from the speculation tax."
A presentation centre for the project will be open daily (except for Thursday and Friday) starting this Saturday on Bernard Avenue for the public to get a glimpse as to what a typical residence in the tower would look like.
Construction on the Brooklyn at Bernard Block is expected to begin in early 2019, and end sometime in early 2021.
