New attainable housing is continuing to develop along Okanagan Avenue.
The Terraces at Okanagan Ridge is a 24 unit town home project geared towards anyone looking for a new home on a budget.
The homes start at $309,900 and are in four-unit buildings. The side-by-side two-story homes have either two bedrooms and two and a half bathrooms, or three bedrooms with two and a half bathrooms and 1,200 square feet or more.
“It’s a price that if you are renting, a lot of people are paying $1,400-$1,500 a month for rent, but if they can scratch together five per cent for a down payment, for the same amount of money you can own a house,” said Gordon Mross, general manager of Okanagan Ridge.
The lower price tag doesn’t mean corners are being cut when it comes the construction.
“We’ve payed special attention to the party walls to ensure minimal sound travel,” said Mross.
Nine-foot main floors and lake or orchard valley views are just a few of the town homes special features. The walk out units have a single car garage and driveway, while the walk-up units have a tandem garage with driveway.
The strata fee of $110 to $148 per month has been kept as low as possible to keep the development attainable and includes garbage pick-up, road clearing and maintenance of the common area. The backyards are maintained by the homeowners.
The Terraces are the second phase in the Okanagan Ridge development. The first phase, a 34 unit project in the same area, called the Okanagan Ridge duplexes has been completed and sold out.
The company has owned the property along Okanagan Avenue for approximately 25 years and their first project was The Cliff’s. The third and final phase of the development is a 52 unit town home project that will start when phase two is completed.
The first two buildings in the Terraces’ have been sold and they are taking deposits for the next two buildings that will be ready for possession at the end of summer.