Ground has officially been broken for a new housing development in Penticton, B.C., one whose first phase took only 72 hours to sell out.
Local officials and the developer, Kerkhoff Develop-Build, gathered on Tuesday at the former site of the Ogopogo Motel and Campground on Riverside Drive where the first phase of Sokana will be built.
“Despite our long history and deep roots in B.C., this groundbreaking marks a major milestone for us that is because after having the opportunity and the privilege to help build homes around the province, Sokana is our first project in Penticton,” said Kerkhoff Develop-Build president and CEO Leonard Kerkhoff.
All 96 units in the first phase were spoken for by the end of June and in response, the developer has accelerated the construction timeline to try and meet the demand.
The project is a part of the city’s North Gateway plan to redevelop that area of Penticton into a work-live-play community.
“Penticton has experienced remarkable growth over the last few years and with that comes a need for greater housing supply and diversity,” said Kerkhoff. “Mayor Julius Bloomfield and city council have not only recognized that need, but they have responded by making Penticton one of the most attractive places to live, invest and build.”
“I am delighted to be here, my council is delighted to be here, to be a part of this groundbreaking event,” said Penticton Mayor Julius Bloomfield. “And to witness the transformation of the North Gateway area of Penticton and build a more vibrant community in this area.
“I think this is just another step in the major transformation that is going on.”
When the project was first proposed, concerns were raised by the public and council over vacation rentals in the building. The property, however, is currently zoned to allow it.
Meanwhile, the entire 234-unit project will be built in two phases over a three-year period. According to the developer, the final block of 138 units in the second phase will also be released ahead of schedule.’
“I can tell you there are some units left but I don’t think they will be around for long,” said Kerkhoff.
The final building will include one-, two- and three-bedroom homes as well as a number of amenities, and potential for short-term rental without speculation tax.
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