PC Urban Expands in Kelowna at Strategic Gateway Site
After 7 years of successfully developing and building industrial, retail and rental developments in Kelowna, Vancouver-based PC Urban Properties is launching its 4th project this week called Powerhouse at Packer’s Junction, a 56,000 square foot, flex commercial and office strata development on 1.5 acres at Clement and Richter.
The two-building development, which commences sales this week, is located at the gateway to the emerging Packing District and is part of a larger development that includes 19,000 square feet of for lease retail space and 158 units of residential rental called The Lodges. With mixed zoning allowing for multiple uses, the site will ease the transition between existing residential to the west and heavier industrial to the north, as well as provide new job creation space in the area.
“It’s gratifying to see the City’s long-term vision for this area becoming a reality,” said Kelowna Mayor Colin Basran. “The mixture of commercial, industrial and residential properties create a dynamic and attractive hub of development where people can work, live and enjoy their leisure time all in one spot.”
“It’s really exciting to be part of developing something that will really offer the area an opportunity to grow and to be part of the renaissance happening at the north end of downtown Kelowna,” says PC Urban CEO, Brent Sawchyn.
The burgeoning neighborhood is becoming a cool, vibrant neighborhood where people can live, work and play, says Steve Laursen, a broker with Royal LePage Kelowna. With more than 750 new residential rental and strata units being occupied in the next couple years, local businesses are recognizing the need for services and amenities in the area and as a result, the development is seeing interest from tech, medical, health and fitness, breweries and other retailers.
“This is the growth area of downtown Kelowna,” says Laursen. “We are offering a rare opportunity for local businesses to purchase high-end, funky, office and retail strata space in the Yaletown of Kelowna. This is something that really appeals to local businesses and investors that want to own their own real estate in the new village of downtown Kelowna’s north end.”
Powerhouse will offer a limited number of small-bay, commercial flex strata properties for retail on the main floor and upper floor office space with pricing starting at $379,000 for office. All units have grade loading, 20’-22’ ceiling heights, high efficiency lighting and ESFR sprinklers and include features such as built-in, upper floor flex space.
“Kelowna shows strong economic fundamentals and PC Urban expects the city and this particular neighborhood to grow,” says Sawchyn. “We’ve always liked Kelowna because it has a diversified economy, in-migration and a burgeoning tech scene drawing young professionals.”