Last year, when Jason Pender and his development partners bought a five-acre stretch of land in the hills overlooking Okanagan Lake, they did so with the vision to build the most affordable new, single-family homes in the region.
Today, after subdividing the land into 29 new lots, they believe they have succeeded— and people are already starting to take notice.
The new subdivision, The Vines, is a 29-lot community on Inverness Road, resting between the lake and the mountains. About half the lots look out onto the lake, while the others will feature mountain views.
With the land now fully developed, Pender says the homes are quickly getting snapped up, due mostly, the developers believe, to how affordably they’ve been priced.
The Vines entry-level homes are two-storey houses with three bedroom, three bathrooms and a double-car garage, starting at just $499,000.
The entire development, Pender says, is structured to be as cost effective as possible, “without giving anything away on the quality side of construction and finishings.”
Pender says the homes are built with quality in mind, and feature an open concept layout, modern interior finishing and a five-piece appliance package.
“We’re not stretching to grab as much profitability as we possibly can, and just leverage out at the maximum price. We’re just looking to get quality homes built and sold at an affordable price,” he says.
With the average single-family home in the Central Okanagan now topping out at more than $700,000, Pender believes homes at The Vines will be the perfect opportunity to break into Kelowna’s real estate market (before it’s too late), or step up from strata ownership.
And options at The Vines extend beyond the three-bedroom starter home.
Pender says homes can be upgraded to be as big as a six-bedroom, four bathroom, 3,150 square foot house with a fully finished basement, that still sells from $670,000.
Lots with future homes to be built at The Vines have only been on the market for about a week, but many have already been snapped up.
Realtor Taylor Musseau says she’s seeing incredible interest in the homes, and encourages anyone interested to get in touch as soon as they can.
Pender seconds Musseau’s call, saying if demand stays at this level he may be forced to up the prices of the units. Getting in early, he says, will be the best way to cash in on the value.
For more information, visit The Vines online, or contact Musseau directly at 250-878-2541.
This article is written by or on behalf of the sponsoring client and does not necessarily reflect the views of Okanagan Edge.
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