Promontory is a new Kelowna housing development in a great location, and it is affordably priced for the Okanagan.
If that weren’t enough, it is also set to become B.C.’s first solar-powered community.
“We’re going to be the first master-planned solar community in B.C.,” Promontory sales director Todd Farrer says. “Solar technology has gone so far in even the last five years that I believe—and the developer believes—that we should be utilizing this solar technology in the development. We hope to lead the way in solar communities. We want to show how well it can work.”
The triple threat of location, price and innovation is proving to be an attractive set of factors for buyers. Phase one of the project sold out within a week, and phase two will go on sale this Saturday, Aug. 17. The second phase features bigger and more unique floor plans with the best views of the entire project.
“We expect a similar response,” Farrer says.
Promontory is located on the southeastern slope of Knox Mountain at the corner of Boynton Place and Highpointe Drive. It is only a four-minute drive to downtown Kelowna and just 10 minutes from UBC Okanagan and the airport. When all six phases are complete there will be 120 townhouses and apartments.
“People are able to hike and run basically right beside our property,” Farrer says. “… All the million to five-million-dollar homes are right beside us as well. So it’s just a beautiful location with beautiful views.”
Farrer says clients are buying at Promontory for all three aforementioned reasons, but the sustainability factor could end up being a real game changer for those who live there. The use of solar panels, which will be installed by Hakai Energy Solutions, could have residents paying a grand total of only $250 a year in utilities.
“We’ve based our solar panels on the square footage of each home,” Farrer says. “The vision there is drastically reduce everyone’s bill. It’s depending on the personal usage, but we believe with the amount of solar panels that we have that they will see a drastic discount on their utility bill.”
Promontory’s energy grid will be supported by FortisBC to ensure that there will always be power if residents go over their allotted use.
Promontory will break ground in September, and those who purchase phase two homes will be able to move into the neighbourhood in either late 2020 or early 2021. Homes will range in size from 466 to 1,348 square feet, and prices start as low $249,900.
“Everything is kind of well below what the average price point is for comparable units,” Vantage West Realty owner and managing broker AJ Hazzi says. “… They’re great for first-time buyers, because you can own them for at or less than the cost that it’s currently costing you to rent a comparable unit. So it makes sense for a first-time buyer, because it’s cheaper than renting.
“It makes sense for an investor, because you have cash flow, and it’s great for Baby Boomers who are looking to downsize.”
Promontory’s sales centre is located at 665 Boynton Pl.
More information about the entire project can be found at Promontory’s website.
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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