From right to left: Jim Marcotte, Sean Caha, Ryan Tamblyn, Davin Shillong, Brianna Lee and Marlon Schaper-Kotter
KELOWNA – Under the pressure of rising housing costs, interest rates, and inflation, the number of Canadians who feel they will never be able to purchase a home has never been greater, a sentiment felt particularly by younger Canadians.
A survey released last summer by Mortgage Professionals Canada (MPC), reported 48 per cent of Canadians who are not currently homeowners do not have confidence that they will ever be able to purchase a home. In a press release, Lauren van den Berg, president of MPC, states “Canadians are facing a housing affordability crisis with little sign of easing in sight.”
However, one Kelowna-based developer, Millennial Developments, is dedicated to changing that, with a new approach to building communities that breaks down barriers to home ownership, while providing amenity-rich, high quality homes for younger buyers. Their signature Millennial Developments Smart Community™ projects focus on smaller, highly functional living spaces in an amenity-rich and technologically enhanced residential development.
Rooftop amenities add quality of life to Millennial Developments projects
Floorplans, ranging from studio to three bedroom homes and townhomes, are designed to maximize living space and include private patios.
Studio homes offer custom full furniture packages that affordably furnish the space, transition day-to-night, and allow the cost of furniture to be rolled into a monthly mortgage payment.
They include a wealth of amenities that expand living spaces beyond one’s own four walls. Features include large rooftop terraces with dining areas and grilling stations, health and fitness areas, additions like cold plunges and saunas, and art installations. Community green spaces, garden lounges, organic planting spaces, pet parks, and outdoor screening areas offer excellent outdoor lifestyle.
A range of fitness facilities are onsite, as well as lounges with bar and kitchen, big screen televisions, and pool tables. Additionally, coworking spaces provide ample facilities for remote or hybrid workers. In locations specifically chosen with high Bike Scores™, ample bike storage and tune-up centres are also available.
Street level view reveals the design and quality of a Millennial Developments project
Tech features include facial recognition entry, RFID vehicle entry, digital keys, smart thermostats and door locks, amenities reservation system, video intercom calling, and smart parcel delivery – all managed by smartphone for modern living.
“What this type of development does is lower the barrier of entry for first-time homebuyers who have been shut out of the market,” Millennial Developments CEO Ryan Tamblyn says. “Although this may be a ‘starter’ property for a lot of buyers, it enables them a stepping stone where they can get into the housing market and participate in equity growth that will help springboard them to a townhome or single family home in the future.”
The Millennial Developments Smart Community™ concept has proven to be an incredible success. Their Five Crossings project, with 207 units starting in the mid $200,000s, sold out within 48 hours in May 2022. Their current project, Revo Kelowna, offering 240 homes starting in the upper $200,000’s, launched sales in October to become the fastest selling development of 2023 in Kelowna.
To learn more about Revo Kelowna, now selling, visit RevoKelowna.com or visit MillennialDevelopments.ca
Business Examiner Staff
