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Major transformation of Vernon's Anderson Subdivision underway as construction begins on The Vaults

The Vaults taking shape

With word of a major new development in Vernon's Anderson Subdivision, another right next door is starting to take shape.

Construction has begun on The Vaults project on the former Interior Auto Wreckers property adjacent to the Prestige Inn.

The Vaults will offer luxury storage for exotic cars and other high-end toys in loft-style "storage condominiums," while related project The Commerce will offer three phases of commercial development

Together with news that the Vernon Auto Wreckers site next door has now sold and will be developed as a light industrial complex, that area of Vernon is undergoing a major makeover.

The Vaults principal Joe Mahovlich says the project follows successful launches in Calgary and Kelowna, and another is coming in Edmonton.

On Tuesday, a large concrete pour was underway for footings on the six-acre property.

The Vaults will include 20 units, and the first phase of The Commerce project, which is following shortly, will have 14.

"We'll have walls up in a couple of months," Mahovlich says of The Vaults, with units opening up this fall.

The Commerce I will follow in the spring.

Between these projects and the Wesmont Group project next door, the area will undergo a complete transformation and modernization – from junkyards to new, state-of-the-art buildings, new roadways and services.

"The landscape will change completely over the next few months," says Mahovlich.

A new road will run between the properties and extend Anderson Way.

Pouring at The Vaults site will continue after a break for plumbing rough in, with the project using about one million cubic metres of concrete by the time it's complete.

The Vaults concept offers high security and privacy along with luxury. Suites include custom lofts where the wealthy can admire their car collections or simply hang out.

Similarly, The Commerce will be aimed at premium commercial, with over 105,000 square feet across three buildings, and units from 1,260 to 41,000 square feet.



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