Mission Group has kicked off pre-leasing for an office tower and sales for the second condominium tower at its downtown Bernard Block development in Kelowna.
The Bertram tower will join the Brooklyn condo at the site of the master-planned, mixed-use project. In addition to the two residential towers, The Block office tower will also include ground-level retail space.
The office tower is being built on spec in response to low office vacancy amid increasing interest in the Kelowna area.
The three towers, located along Bertram Avenue from Ellis Street to St. Paul Street, will dramatically alter the skyline of the city of about 130,000 residents.
Brooklyn, which was released for sale in 2018, is now 97 per cent sold and is under construction. The 25-storey, 178-unit tower is expected to be available for occupancy in 2021.
Bertram is to be a 34-storey tower featuring 257 condos, ranging from studios to two-bedroom units. Mission Group promises “spectacular lake, mountain and city views” in its announcement.
Pricing starts in the $200,000s.
“We are dedicated to the positive evolution of our community. As the next step in this evolution, Bertram will further enliven our historic downtown core,” Luke Turri, the executive vice-president of Mission Group, said in the release.
The Bertram’s rooftop amenities
Among the amenities will be a rooftop sky pool and lounge with 180-degree views of Okanagan Lake, rooftop poolside lounge seating and a rooftop co-workspace to take in the mountain and valley views.
A sixth-floor outdoor terrace space will offer future homeowners a community garden, an outdoor sports area, seating areas around fire pits, BBQs and water features, and an indoor fitness studio. The main floor will include a shared co-workspace overlooking tree-lined Bertram Street.
The location in the heart of Kelowna also means easy access to shopping, entertainment, restaurants and transit. It has a Walk Score of 98 and a Bike Score of 97.
Meanwhile, Mission Group is also continuing to market its planned 13-storey The Block office tower, which will complete the Bernard Block development.
The most up-to-date design is for 85,000 square feet of class-A office space as well as 16,000 square feet of ground-level retail storefronts.
Construction is slated to begin this fall.
A spokeswoman for Mission Group told RENX HM Commercial and Cushman Wakefield are brokering the office space.
“We are having ongoing negotiations with tenants of various sizes at this time, but have only just launched the pre-leasing process,” she said.
According to Colliers International, office vacancy in the Kelowna market has dropped below four per cent and leasing rates have increased over 13 per cent during the past year.
The city also has one of the fastest-growing populations in Canada, with growth at about 1.8 per cent annually.
Cities such as Kelowna have received attention in recent years from businesses which are considering migrating from the increasingly expensive Metro Vancouver area.