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North Kamloops: A Hub of Development and Growth
Dated: February 17 2023
If you're looking to invest in real estate or are simply interested in the latest trends, you might want to pay attention to what's happening in North Kamloops. With its growing popularity, it's no surprise that developers, builders and entrepreneurs are rushing to take advantage of the city's thriving market. In recent years, we've seen a number of new mixed-use projects pop up in the area, and with more in the pipeline, it's safe to say that North Kamloops is on the rise.
One of the biggest and most exciting projects in the works is Thompson Landing, a 64-unit riverfront development on Royal Avenue. This development is sure to turn heads with its stunning views of the Thompson River and its modern, sleek design. The units themselves are spacious and well-appointed, with all the latest amenities and features that today's home-buyers are looking for. Whether you're a first-time home-buyer or a seasoned real estate investor, Thompson Landing is one of many upcoming projects worth taking a look at.
There are already many recently completed mixed-use commercial and residential projects include the 28-unit, Huston Place building, Colours On Spirit Square, a 38-unit development, and The Station on Tranquille, a 47-unit building. These projects offer a unique blend of commercial and residential spaces, making them perfect for those who want the convenience of having everything they need within a few blocks. For example, Colours On Spirit Square is home to the popular Yew Street Food Hall, which is already a staple in the Kamloops community. Similarly, The Station on Tranquille is home to Bright Eye Brewing, a local favourite brew pub.
And these are just the beginning! With many more mixed-use projects in the on the horizon, North Kamloops is quickly becoming a hub for development. In an effort to promote continued growth, the city of Kamloops has even created special tax exemptions for some of these upcoming developments, making them an even more attractive opportunity for aspiring developers, homeowners, and investors alike.
One of the biggest draws of these new developments on the North Shore is of course the fact that condos are becoming increasingly popular as an alternative to more costly single-family homes. With their lower price points and convenient location, condos are the perfect choice for many first-time home-buyers, empty nesters, and those who want to be able to live close to a thriving community without the upkeep of a larger property.
Mixed-use commercial residential buildings are also becoming more popular due to their convenience and sustainability. They offer retail, office and residential spaces in one building, promoting walk-ability and community connectivity while reducing sprawl. This type of development is likely to continue growing in popularity in Kamloops, as the city continues to face new challenges with limited space.
Its easy to see the North Shore quickly becoming a hot spot for real estate development and investment, with some even comparing it to the modernization and revival of Gas Town in Vancouver. With growing popularity, affordable pricing, numerous new projects, and special tax exemptions from the city, it's an opportunity that you might want to take a closer look at. Whether you're a first-time home buyer, seasoned investor, or a developer with a vision of the future, North Kamloops is quickly climbing the list as one of the best places to be.
Working as a Realtor during a re-developing market is a thrilling experience. You get to witness new homes and communities taking shape, and the excitement of growth and change can be felt in the air. As Realtor’s, we are lucky to be able play an integral part of this growth, helping families find their dream homes and helping developers bring their visions to life. It's a fast-paced environment, with new listings and projects popping up frequently, and always something new and exciting to keep you on your toes. There's a sense of pride and accomplishment in being a part of this, and knowing that you are helping to shape the future of the community.
- Josh Fowler, REALTOR®
Josh Fowler is a REALTOR® serving Kamloops, BC and surrounding areas. He draws from his lengthy background in both construction and sales to provide expert level guidance to his clients when buyin....
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