As Kelowna actual property costs skyrocket, is the reply to suppose small?

A lot of us shake our heads about the price of a home in Kelowna.

The people at Millennial Developments got to work.

With the average single-family home over $1 million in Kelowna, homeownership feels out of reach for many.

But change your expectations and you could have something brand new in the mid-200s.

“The way we live and work is changing and living spaces need to keep pace,” said CEO Ryan Tamblyn at the Wednesday afternoon groundbreaking.

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<p>The project is on a piece of ground that used to be occupied by six houses.</p>
<p>Once this project is complete, there will be 207 units.</p>
<p>“Five Crossings Smart Suites at Landmark will be the first truly smart community of its kind in Kelowna,” said Tamblyn.</p>
<p>The amenities are many, but the units are snug.</p>
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The definition of a micro suite is something under 330 sq ft. Five Crossings has shaved it down to 313 for their studio units, so what makes them attractive is what you share with your neighbors.

“The features and amenities in five crossings have been designed to enhance residents’ lifestyles and foster a community within the building,” said Tamblyn.

That includes a roof-top lounge with a covered atrium, a barbeque, a golf simulator and a yoga pavilion.

There’s bocce, ping pong, a community garden, a co-working space and a gym.

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<p>All of it comes with the latest technology including facial recognition to get you into the building.</p>
<p>“No matter if it’s a micro suite, a one-bedroom or a two-bedroom which we have all of,” he explained, “everything in this development is run from an app on your phone.”</p>
<p>It makes sense because the target demographic is people in the 20 to 34 age range.</p>
<p>“Our team has focused on creating desirable and affordable housing for younger and first-time homebuyers that are currently being shut out of the market,” added Tamblyn after he put down the ceremonial shovel.</p>
<p>“We have to build cities differently,” said Kelowna Mayor Colin Basran who joined Millennial for their groundbreaking.  “We can’t keep sprawling. Sprawling is costly for the environment and it’s costly to run our city financially.”</p>
<p>Basran pointed out that the project means a big shift for the mostly single-family neighborhood east of the Capri Mall. </p>
<p>“This is a huge milestone,” he said.  “Because it signals that we are doing things differently, more progressively and sustainably.”</p>
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The Mayor is clearly pleased with the direction this project is going in.

“I can’t wait to see this building come to life,” said Basran.

But he’ll have to wait.

People can expect to start moving into their units in early 2024.

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