Lack of new housing supply an issue as inventory falls by 37%

dHz Media 1151 Sunset Drive, Client Releases

Pace of sale leads 1151 Sunset Drive to shut down sales centre earlier than planned

Kelowna B.C. Kerkhoff Construction announced today that the presentation centre for 1151 Sunset Drive will be shutting down after June 3, 2017. According to the Okanagan Mainland Real Estate Board (OMREB), housing supply in Kelowna is dwindling and becoming an issues as time on market decreased to less than 10 days for inventory levels across the City in March.

1151 Sunset Drive has just 4 townhomes and 22 condominiums remaining after going to sale six months ago with 109 homes in the first week of November, 2016. OMREB reported sales continue to increase month-over-month, with a 58 per cent increase in March 2017 compared to February 2017. Available inventory dropped 37 per cent compared to March 2016.

“Sales have proceeded well beyond our expectations at 1151 Sunset Drive,” says Leonard Kerkhoff, vice-president of Kerkhoff Construction, “Kelowna is very popular right now and given the low level of inventory we expect to sell out well ahead of projections.”

The selection of homes remaining for sale range in price from $389,900 to $434,900 for a one-bed and den, $549,900 to $754,900 for a two-bed and den, $799,900 to $849,900 for a townhome and $1,569,900 to $1,649,900 for a sub penthouse.

Construction on the 21-storey high-rise is advancing quickly. The structure has surpassed 10 floors and all 21 floors will be constructed by mid-July. With projected occupancy in Summer 2018, 1151 Sunset Drive is the only new high-rise in Kelowna that will complete in the next 2 years. This factor is driving demand as is the lack of supply in the market.

1151 Sunset Drive’s presentation centre, located at 1001 Manhattan Drive, features two fully-furnished show suites displaying designs for one-bedroom and den and two-bedroom and den condos. The show suites highlight the key features including 9’ ceilings, plank engineered hardwood flooring throughout the main living areas, quartz and marble countertops and designer-style polished chrome faucets and shower heads.

Photo caption: Construction on the 21-storey high-rise has surpassed 10 floors and all 21 floors will be constructed by mid-July. Photo credit: 1151 Sunset Drive.

The high-rise features a concrete and glass tower with contemporary colour accents, reflective pond in front, with a cascading waterfall, modern glass and concrete façade, and extensive amenities such as a multi-purpose room with adjacent outdoor space and BBQ area, plunge pool; fitness room and a business centre.

Anyone still wishing to preview their future homes are encouraged to do so by visiting the presentation centre prior to June 3, 2017 after which the 1151 Sunset Drive display will be removed. Regular hours are Monday to Saturday 11 am – 5 pm and private evening appointments are available by calling 250.980.7637.

New purchasers who buy before May 1, 2017 will have the option of receiving a trip for two to Las Vegas or one year of free strata fees as part of 1151 Sunset Drive’s Spring Sell-off event. Potential home owners looking to own downtown should call 250.980.7637 or visit http://1151sunset.com/register/ to register.

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For Media Kit (backgrounders, fact sheet, and photos) click –here
For more information on 1151 Sunsest Drive see websitehere
To download high resolution photos click – here

Media Contacts:

Scott Henderson
dHz Media
250.317.3751
scott.henderson@dhzmedia.com

Eirin Bernie
dHz Media
403.763.7797
eirin.bernie@dhzmedia.com

About Kerkhoff Construction www.kerkhoff.ca

Since its beginning as J.C. Kerkhoff and Sons Construction in 1968, Kerkhoff Construction has built a strong and respected profile, both locally and internationally. From the very first home built and sold in Chilliwack, BC, Kerkhoff Construction has held firmly to the family commitment to excellence, innovation, and integrity, and above all else, client satisfaction. Their expertise encompasses all aspects of design and construction management, guiding complex and diverse projects from preliminary concept to successful completion. Kerkhoff has changed skylines and constructed key landmarks in BC and around the world.

To register visit:
http://1151sunset.com/register/