Johannes van Leenen Of Fifth Avenue Properties Help Meet the Demands of Kelowna’s Dramatic Population Growth

KELOWNA, BC. / ACCESSWIRE / 2 August 2022 / British Columbia is perhaps the most desirable province to live in Canada, so it’s no surprise that the city of Kelowna is seeing an increase in its population. The wider Thompson-Okanagan area is expanding at a rate of approximately 1.6% per year, with already 620,000 residents in 2021. It is estimated that around 10,000 new people will be added each year. Kelowna, the largest city in the Okanagan Valley, is coming under increasing pressure to accommodate these new residents. Kelowna is Canada’s 22nd largest city and British Columbia’s 3rd largest metro area, with a population estimate of approximately 153,148.

When the Thompson-Okanagan population first began to increase, there was actually a decline in home construction in the area; Lack of supply stifled sales and drove home prices higher. British Columbians spend almost 60% of their disposable income on housing, according to a survey released by the Canadian Mortgage and Housing Corporation in June. For British Columbia to have hope of an affordable housing market by 2030, CMHC predicts that the province must quadruple the number of available properties. The high demand for rental homes and properties in this area has greatly increased costs and has caused purchasing difficulties for both old and new tenants in the area. However, several new residential projects are being launched in Kelowna to combat this. An award-winning group Fifth Avenue Propertiesalongside future UBCO Downtown campus expansion, their multi-family development ‘Nolita’ promises to host 60 families in the vibrant cultural district of downtown Kelowna.

Johannes van LeenenThe man behind Fifth Avenue Properties is a proven visionary and one of Canada’s most sought after production home builders. With more than 25 years of work in the real estate sector and over 2,500 residences, it has earned the reputation of being a remarkable leader in the sector. this J. van Leenen Series It has an impressive portfolio of traditional and contemporary design styles that help create vibrant and inclusive communities that people can call home. One of the newest builds added to this repertoire is ‘Nolita’. “The Kelowna real estate market is heavily impacted by a tight housing supply and strong immigration to Central Okanagan. This is Canada’s fastest growing metropolitan area. Our approach to this fast-paced market is to build mid-rise apartment buildings at an affordable price that appeals to the modern buyer. point,” explains Johannes van Leenen.

Nolita is the ultimate blend of luxury and affordability. Located at the north end of downtown, in the vibrant cultural district of Kelowna. Nolita has luxury townhouses and sophisticated condos with floor plans to suit every lifestyle, income level, and life stage. Nolita has been designed with the community in mind and features extensive amenities such as a rooftop terrace, an al fresco cooking area with tables for al fresco dining, a grassy dog ​​run, and ample lounge areas to enjoy the Okanagan sun. It is located close to restaurants, craft breweries, urban wineries, and boutique shopping malls and is just steps from the waterfront boardwalk.

Johannes van LeenenThe father of 3, volunteer football coach and property development specialist knows the true value of the community and puts the interests of the community at the center of his designs. With each new development, Fifth Avenue Properties strives to challenge itself to come up with new concepts and visions that meet the diverse lifestyle needs of Canada’s major cities and future generations. They certainly hope to appeal to a wide variety of buyers, tenants and investors in the Kelowna area with their pioneering craftsmanship.

Communication:

Company Name: Fifth Avenue Properties
Contact Person: Johannes van Leenen
Address: 407 – 1708 Dolphin Avenue, Kelowna, BC, V1Y 9S4
Phone Number: 250-764-3738
Website Link: https://www.fifthaveproperties.com

SOURCE: Johannes van Leenen

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