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Innovation District brings proven leader aboard in Dwell Property Management

Major project turns to Dwell

The companies behind the massive Innovation District project in Penticton have turned to a leader in property management.

Tien Sher Group and Stryke Group, which have more than six decades of combined experience in developing sustainable and innovative urban spaces, are poised to bring more than 1,500 homes for 2,000 residents to the area over the next decade. The community will also feature more than 100,000 square feet of office space, retail, seniors living, hotel and other uses.

The first residential opportunity of the master-planned community, called Nikola, features 127 Scandinavian-inspired homes ranging from studios to three-bedroom units, along with exciting commercial retail units. The building is adjacent to Ellis Creek and will be all be six storeys in height, featuring a rooftop deck with views of the surrounding hills and Skaha Lake.

To ensure a smooth transition from purchase to residency—and everything that comes after that—is done smoothly, effectively and professionally, Stryke Group and Tien Sher Group have hired Dwell Property Management to oversee all strata matters. Dwell will help to establish the strata budget, bylaws, and have feedback into other technical and legal issues that impact the way the building functions as well as the experience a buyer will have when they move into it.

“They do a fantastic job of creating a budget for everything, from snow removal to window cleaning and parkade cleaning and utilities and everything in between,” Stryke Group managing director Rocky Sethi says. “That gets built into the disclosure statement and is part of what people will consider when they make their purchasing decisions.”

Dwell is a B.C.-based company that manages strata-titled residential properties, non-profit residences, apartment buildings and commercial properties. All told, it oversees more than 650 buildings across the province and employs approximately 120 staff members. It recently expanded its services to the Okanagan, opening a branch office in Kelowna and with local senior managers in the community, Dwell is well positioned to bring its expertise to the ambitious project.

“We’re looking to partner with best-in-class groups, and we take that seriously,” Sethi says. “That’s in terms of industry experience and expertise, but also alignment on values and the vision for the project, because it’s obviously quite a bold and ambitious project. So you need people who can come along and really bring a bigger lens to that market than it’s seen before.

“Dwell has a depth of expertise but also boots-on-the-ground experience to manage the project.”

Dwell's innovative partnership-style employment model attracts top industry talent, ensuring high client satisfaction and retention. Managing broker Ken Armstrong highlights that Dwell's unique approach allows property managers to choose clients that align with their values, maintaining a remarkable 98% client retention rate.

“It’s important that we are dedicated to maintaining good, longstanding relationships with our clients, but also with other industry professionals,” Kelowna managing broker Sheri Watson says, “because that is definitely something that is important to clients.”

This continuity extends to vendor relationships, making Dwell a perfect fit for Stryke and Tien Sher's vision.

More information about Dwell Property Management can be found on its website here.

This article is written by or on behalf of the sponsoring client and does not necessarily reflect the views of Castanet.



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