Troika’s Green Square VERT builds in Kelowna on winning formula
Michael Bernard
The Vancouver Sun
Green Square VERT
Project Address: 3626 Mission Springs Dr., Kelowna
Project Scope: A second phase of 118 condo units in four buildings ranging from four to six storeys, and 23 townhomes situated on five acres just 1.5 from the Okanagan lakeside in Kelowna. Close to shopping, walking and cycling paths
Prices: one-bed-and- den condos in the $260,000s
Developer: Troika Management Corp.
Architect: BlueGreen Architecture
Interior Designer: Dalaun Klaassen
Sales Centre: 11 — 3626 Mission Springs Dr., Kelowna
Centre hours: noon — 4 p.m. daily
Sales phone: 250-300-7711
Website: LiveatVert.ca
Occupancy: Fall 2018
When Renee Wasylyk watched the last of 56 townhomes in the first phase of Green Square in Kelowna’s Lower Mission sell out, the Troika Management CEO knew the company had a winning formula to move full speed ahead with the remaining homes on the five-acre site.
Situated just blocks from one of the city’s most popular beaches at Gyro Park, people quickly grasped that the townhomes were ideally located to take in the outdoor life that Kelowna offers and all the amenities needed to support that lifestyle.
It also didn’t hurt that the development is centred in Lower Mission, where basic bungalows routinely fetch $800,000 and $900,000, and luxurious beachside single-family homes sport multi-million dollar price tags, she said.
“We are trying to give people another option outside of that (pricier real estate),” she said. Green Square VERT condo homes in four taller buildings in two corners of the site start in the $200,000s, while the 23 two- and three-level townhomes surrounding the taller structure will sell for up to the high $500,000s for a four-bedroom unit, prices that are still seen as reasonable in a city where annual double-digit price increases have become the norm in the last three years.
Troika, whose credits include the highly successful West Harbour Development, a team effort with the Westbank Indian Nation on the shore of Okanagan Lake, can now add another notch by building the first wood-frame construction in Kelowna to reach five and six storeys.
It was that technology, pioneered elsewhere in the province, that paved the way for an innovative medium-density design for the rest of the site, Wasylyk said. It also sprouted the unusual name “VERT”, is word play on vertical and the French word for green.
By going up, Troika was able to dedicate more of the site to green space, including a children’s play area, community gardens and leisure seating, she said. Other on-site amenities include a yoga room, gymnasium and community gathering place. Pathways run throughout the green space, with one leading directly to the beach.
Two of the four condo buildings, done in contemporary design with large overhangs and oversized windows, also feature rooftop terraces so all of Green Square VERT residents can enjoy views of Okanagan Lake and the mountains, she said. Close by is the 40-store Mission Park Shopping Centre, with grocery stores, restaurants and retail outlets. Also adding to the sense of luxury in the area are the venerable Eldorado Hotel and Manteo Resort.
To further encourage residents to abandon second cars, Troika is talking to the city’s car- sharing organizations and plans to provide on-site parking for at least one of them, she said. “And rather than putting in a car wash, we are putting in a bike wash, a doggie wash and maybe even a kid wash,” she joked.
Troika had scheduled a special preview for realtors in late August and were planning a public launch in early September.
Wasylyk boasted that when her marketing team sat down to consider the demographic for Green Square VERT, it concluded it would interest anyone who wanted “connected living,” where they had access to the outdoors while carrying on an urban lifestyle.
“It appeals to every single demographic that wants to get out of their cars.”
Condos will range from one-bedroom-and-den models at 700 square feet, two-bedrooms between 880 and 900 square feet, and two-bedroom-and-den suites up to 1,115. Townhouse models include two-bedroom-and-dens at 1,335 square feet, three-bedrooms between 1,250 and 1,415, and four-bedroom units 1,560.
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