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Okanagan Heating Up

Vancouver Multifamily

The Okanagan is heating up again post-recession, fueled largely by renewed investment from Alberta, Colliers' Kelowna-based Jeff Hudson tells us. His firm is hoping to take advantage, putting on the block an unprecedented 186-unit apartment portfolio—"the first time we've seen anything of this size or magnitude" in the Okanagan, Jeff notes. He says he's expecting a "big player" to snap up the properties: The Conservatory (above), a $29.6M building overlooking Kelowna Golf & Country Club; and Lake Country Lofts, a $13.9M sister property (both fully occupied). Larger-scale investors seeking to "set up some roots" in the Okanagan covet buildings with 100-plus units, to create economies of scale, Jeff says.