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Dubbed "smart" studio living, a new condominium will offer uniquely designed micro homes that start selling at just $100,000.
The Cambridge House will offer an opportunity to live downtown, close to amenities for an affordable price. However, the majority of the suites might be a whole lot smaller than homeowners are used to.
At 313 square feet, the majority of suites will be a type of micro home.
Rob Hager, the sales and marketing manager at Cambridge House, says they are targeting a niche market but many are surprised to see what the suites will look like.
“As soon as people come to our presentation centre to visualize the space, they have a different reaction to the perception of it being small,” Hager explained. “Things have changed in larger cities, Vancouver, Toronto, New York, overseas; there are a lot of micro suites that are 200 to 250 square feet and it is all about functionality of space.”
While the concept might be new to Kelowna, the idea of living downtown at an affordable rate has caught a lot of homebuyers' attention.
Hager explains he has had management companies tell him they could rent out the suite for upwards of $1,200 a month.
“It could be $800 to $900 to carry a suite so it makes sense there,” he said. “On the live-in side, we have a lot of young professionals and young couples who want to get into the market and this is an opportunity to buy something. Not only is it affordable but it is brand new.”
The developer has put a lot of thought into the finishings of the suites, says Hagar, from the stainless steel appliances, to the vinyl flooring, and flat panel kitchen cabinets.
Cambridge House will also offer the opportunity to add on amenities such as a Murphy bed, adjustable dining room table, and shelving combinations.
While the suites might be considered micro, the common-areas in the building will not be.
“We have about a 9,700-square-foot landscape courtyard on two levels. It has barbecues, places to socialize, ping-pong tables and things of that nature,” said Hager. “On the inside, we have about 4,700 square feet of common space, which is comprised of a lounge, a grand fireplace and also a cardio-gym.”
Units go to sale on Sept. 17, with a completion date of 2018.
Cambridge House will be located on the corner of Ethel street and Leon avenue – while the show suite is located at 105a - 347 Leon Ave.
