Arpa Investments is proposing to build a Riverfront condo development on the Thompson River in North Kamloops and will be meeting with the community about the project plans in the coming weeks, in advance of a rezoning hearing.
Thompson Landing is a two-building, multi-family residential project planned for three properties, located at 207, 209 and 215 Royal Ave. Online marketing of the project describes it as a "multifamily riverfront executive condo development." The properties are situated in an area mixed with both commercial and residential.
Arpa Investments partner Joshua Knaak said the value of the project is estimated to be between $15 million and $20 million. The two buildings are proposed to stand four and five storeys, respectively, and include 64 market housing units geared at people who are downsizing. The development will also include 88 underground parking stalls and be situated in a cyclist and pedestrian friendly neighbourhood. A European-style courtyard will separate the two buildings.
An artist rendering of the project shows a landscaped riverfront area. However, Knaak said the riparian zone, including trees not seen in the drawing, will not be touched.
The proposal requires rezoning of the property from single family to multi-family zoning, including a public hearing.
Community information sessions will be held in person on Jan. 23 at 5 p.m. and 6:30 p.m. at Red Beard Cafe, at 449 Tranquille Rd. An online information session will be held on Jan. 24 at 7 p.m. Registration is required and can be done so online at thompsonlanding.ca.
Knaak said he expects the public hearing and development permit to go before council and the public in February. The goal is to begin construction in late spring or early summer of this year and complete the project in the fall of 2023.
Arpa Investments is behind significant redevelopment in the Tranquille Corridor, including The Station on Tranquille and The Colours on Spirit Square. It is also behind a new daycare to be completed soon on McMurdo Drive.
Knaak noted significant demand for both commercial space and housing in Kamloops and touted the North Shore for its access to transit and amenities.
"As long as people are going to want to put businesses and residences in that area, then we'd love to be the one building them," Knaak said. "That's why we continue to work on the properties we already own and also acquire more when it makes sense. It's a great corridor. It's where our office is. It's where we all live now, the three partners in Arpa, and we all are within about four blocks of there. It's fun to build the community there."