Elevated Residential Lifestyle Slated for Kelowna’s Upper Mission
Kelowna, British Columbia— 2021/02/03
Aplin & Martin Consultants Ltd, on behalf of Evest Funds, is pleased to announce that the application for The Heights at Upper Mission has now been submitted to the City of Kelowna for approval. The application was a comprehensive presentation and overview of the project with the intent to rezone the land parcel from an “Agricultural” designation to that of “Low Density Multiple Housing”, and to obtain a Natural Environmental and Hazardous Conditions Permit.
Meeting Market Demand in Kelowna
Through the challenges of a pandemic, the demand for Kelowna real estate has remained robust. According to census projections, the population in Kelowna is anticipated to increase 26% by 2041, creating a housing shortfall of approximately 55% based on current and upcoming housing starts.
The Heights at Upper Mission will be a desirable combination of lifestyle features including sweeping lake and valley views, single-story floorplans, energy-efficient appliances, and an exclusive location nestled at the highest residential point in Kelowna, close to schools, golfing, outdoor activities and more.
“The interest in Kelowna real estate is undeniable,” said Bob Fraser, the President and CEO of Evest Funds, who brings an impressive 30-year career in real estate acquisition, finance and development to the project. “People are flocking out of larger urban centers and into the Okanagan for the incredible lifestyle, thriving economy, excellent educational facilities, an affordable cost of living and less cramped environments compared to large cities. The Heights at Upper Mission is going to provide those buyers with everything they’re looking for and that quintessential Okanagan lifestyle – a convenient location, phenomenal views, quality construction and spacious living areas, greener construction – all in one of the area’s most desirable neighbourhoods and at an accessible price point.”
Construction Ready to Begin Immediately Upon City Approval
With an application that is comprehensive and aligned with City of Kelowna bylaws and rezoning requirements, Aplin & Martin Consultants Ltd is confident that the process will be unencumbered, and Evest Funds has already begun to release limited partnership investments under their Investor First program. The Investor First Limited Partnership program is open to all qualified investors, allowing them to partner with the developer with a $25,000 minimum capital investment and offers a projected annualized 15% preferred return upon the completion of the development and sale of the final real estate project. Those in the Investor First program will also have first access to completed units at The Heights at Upper Mission at a preferred price structure not available to public market.