The ribbon has been cut for the latest condo building to grace the skyline of North Kamloops.
About 25 local dignitaries, including many city councillors, attended The Station at 280 Tranquille Rd. on Monday for a grand opening celebration, marking the completion of all 47 residential units in the six-floor building.
“North of $12 million investment on Tranquille Road and kudos to Arpa Investments for their confidence, not only in Kamloops, but this particular part of Kamloops,” Mayor Ken Christian told the crowd.
Residents have been moving in to their new homes over the course of the summer, including Coun. Kathy Sinclair, who bought one of the building’s 24 micro-apartments.
“I like that the neighbourhood is developing,” Sinclair said. “It’s exciting to be a part of it.”
Sinclair said the micro-apartment lifestyle may not be for everyone, but having lived in Vancouver, it’s one with which she is accustomed.
“I used to live around Main Street and Commercial Drive and those neighbourhoods have a lot of character, have a lot of diversity and they become the cool place to be,” she said. “And since I’ve moved to Kamloops, I’ve seen that along the Tranquille corridor.”
Andrew Watson, president of the North Shore Business Improvement Association, said the new development and others Arpa has in the works will attract more people to check out businesses along the Tranquille corridor.
“The Station represents more than just a place to live and work, it represents a step forward in the revitalization of the corridor here,” Watson told the crowd.
Sinclair said she feels the development will also help to reduce crime by putting more eyes and ears on the street from the influx of residents and people flocking to destinations such as the Bright Eye brewpub and United Way’s Xchange office spaces that will open on the ground floor.
All work on the residences is complete, while construction remains at those two businesses, which are about 80 per cent complete and expect to be open next month.
The building has three types of apartments — micro-suites that span about 350 square feet, one-bedroom units measuring 755 square feet and two-bedroom layouts covering about 840 square feet.
The remaining units are listed between $189,000 and $325,000 and buyers will receive a 10-year municipal tax exemption.
Arpa sold all but five units, while four others are on the market for resale.
Arpa Investments partner Joshua Knaak said he believes one of the reasons The Station sold well was because people saw the building as part of a redevelopment of the area.
“The reality is real estate on this side of the river sells for less than it does in other parts of town, so [it’s] a good opportunity to get in while things are on the upswing,” he said.