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Porter Ramsay Blog

Real estate developer gears up for condo development

On Behalf of | Apr 6, 2020 | Real Estate Law |

A developer based in the Okanagan is offering investors the chance to get in on what it says is the best opportunity in the province. British Columbia real estate development company West K Homes, will be breaking ground shortly on 103 resort residences in Vernon. The president of the company says the 313-square-foot condo units are designed for trendy, compact living.

He says investing in this type of real estate in the Okanagan Valley right now makes sense since interest rates are at an all-time low. The City of Vernon gave West K Homes and its business partner the green light for the Vita building with an expected move-in date of March 2021. To sweeten the deal, Vita is offering prospective buyers 1% financing over a five-year term.

Units come with stainless steel appliances, modern kitchen cabinets, vinyl plank flooring and come fully furnished — including the cutlery. Prices for the units range from $174,900 to $249,000 with an average price of $194,000. The costlier units are located on the ground floor with walk-out patios for $234,900. Designers have used every bit of space allowing for high functionality.

Many British Columbia residents are on the lookout for affordable real estate ventures. The Okanagan Valley is one of the province’s most sought-after areas. A lawyer understands the market and may be able to help a client to seal the deal on an affordable investment. A lawyer will always have the best interests of his or her client at heart and can see a client through the entire buying and selling process.