Kelson Group announces to new buildings to be developed at TRU

That residential project will be opening this fall.

Jason Fawcett is the Vice President of Operations for the Kelson Group. He says between the two new buildings announced for The Reach today (May 28), there will be roughly 82 units.

“There are going to be two five-storey buildings of about 40 apartments each. One will be a rental building and the other one’s going to be a condo building that we’re going to sell to the public,” Fawcett says. “We are also opening it up to the general public, and it’s not restricted to just students.”

Fawcett says there’s demand for people to live on-campus — whether they go to school or work at TRU.

“We just believe that this corner has great views up the valley and all of Kamloops. We’re just very confident that we’ve got lots of people that are going to want to live there.”

There will be 42 units in the rental building and 40 units in the condo building. Fawcett says this will help open up the rental market more in Kamloops, along with several other ongoing projects in the city.

“I think that it’s going to be very positive for renters throughout Kamloops, that there’s going to be a lot more supply and the new buildings are certainly more expensive on the rental side but there’s a lot of value that they provide,” Fawcett says, noting amenities include underground parking and five appliances per unit. “It’s just going to help the overall market. I believe that we’re going to see a very balanced rental market here within the next year.”

Fawcett says prices won’t be set in stone until the buildings are closer to completion, but they’ll likely line up with the average rental price for brand new apartments.

“We’re still in the process of determining that. You don’t want to quote rates because things can change quite a bit over a year and we’re probably not going to open for another 18 months,” Fawcett says. “I think options are good for the market and it will help keep prices affordable — which is very important, for Kamloops to be seen as an affordable option, especially compared to either Kelowna or the Lower Mainland.

“The more supply that is built in the city, it’s going to be positive I think, for people that want to live here and give them options.”

Fawcett says it’s too early to say whether the units will be pet friendly. The Kelson Group is trying to figure out how well dogs would fit around the campus.

“Typically we’re fairly cat friendly but with dogs, it’s just a matter of will they really have an area that they can be received on campus and we’re still trying to figure that out.”

by Ashley Legassic

Kelson Group announces to new buildings to be developed at TRU

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