The torch has been passed at Kelson Group as owner and founder Ron Fawcett changes roles at the Kamloops-based residential and commercial property management and development company
Son Jason Fawcett will take on the role of president at the company. He was formerly the vice-president of operations.
Ron Fawcett will have the title of founder and role of executive director and will spend more time focusing on new construction projects and development plans.
"He has this incredible ability to see opportunity where others may not and build upon that. He is really the biggest reason Kelson Group is here and why it has seen continued success," Jason said.
The company began with apartment buildings in Kamloops and became one of the largest private owners in Western Canada, with properties in 10 cities across B.C. and Alberta.
In recent years, Kelson Group began developing properties of its own, including a recently built and leased 106-unit apartment building in Surrey and the 42-unit Liberty Pointe development at Thompson Rivers University.
The company is also in the midst of planning a major multi-million-dollar redevelopment downtown.
In the past few years, the Kelson Group purchased two high-rise apartment buildings downtown, along with other land, in a deal worth an estimated $25 million.
Along with the purchase in October 2017 of the two 10-storey apartment buildings — The Pines on the southeast corner of Battle Street and Fourth Avenue and The Oaks on the southwest corner of Battle Street and Fourth Avenue — Kelson also also bought parcels of land on Nicola Street, between Fourth and Fifth avenues, and the vacant lot on the southeast corner of St. Paul Street and Fifth Avenue, which is then sold to the City of Kamloops, on which social housing will rise.
In total, the purchase includes 1.4 hectares (3.44 acres) of land.
Kelson bought the high-rise properties from Argus Homes, a Kamloops family-owned business that built the highrises in the 1960s and managed the properties for three generations.
In the fall of 2017, the company said its downtown plan includes building four to six multi-family buildings in the next decade, which are expected to add 300 to 500 new residential units downtown, composed of a mix of rental suites, condos, and townhomes, along with green spaces.