KAMLOOPS — Kamloops-based property management company Kelson Group has announced plans to build a new apartment building in Sahali.
The company has purchased a property at 1430 Summit Drive that currently houses the Sports Central Lounge and a liquor store.
Kelson Vice President Jason Fawcett says once city approvals are obtained, the company wants to tear down the existing building and put up 102 market rental units.
Fawcett says now is a good time to build.
“The market’s really strong,” said Fawcett. “Our vacancy rate is very low and we think this is a great location to build a brand new building that will have a lot of amenities that most buildings in town don’t have: underground parking, lots of appliances and new finishes.”
The property was listed for $2.9 million, but the company hasn’t said how much it will cost to build the new complex. Fawcett says the company hopes to begin construction around the end of summer.
