“U-Eight is the last chance for homebuyers and investors to take advantage of the high demand for University housing in Kelowna,” says Jessica Sorrell, director of sales and customer experience at Mission Group.
Sorrell notes that although there are more than 9,000 students enrolled at the University of British Columbia’s Okanagan campus, there are fewer than 1,700 beds available on campus.
U-Eight gives investors and parents the opportunity to earn passive monthly income in a drum-tight BC rental market. “Kelowna’s low rental vacancies, the growing demand for housing at the University, and current rental rates create a very attractive opportunity for investors and parents of students,” says Sorrell.
Homebuyers will appreciate the variety of suites available. U-Eight offers a selection of well-designed studios, one-, two-, and three-bedroom homes. All residences come complete with a full kitchen, in-suite laundry, and one bathroom per bedroom.
With prices starting from the low $200,000’s, U-Eight provides clear value for new housing in the area. Last month, the average sale price of a condo in Kelowna was $329,313, according to the Okanagan Mainline Real Estate Board.
Mission Group plans to break ground on the project next spring. U-Eight is expected to be completed by the start of the fall 2020 semester.