KELOWNA – Mission Group announced today the final phase of its successful series of condominiums located next to the University of British Columbia’s Okanagan campus (UBCO) will launch in early 2019. U-Eight is the seventh and last condominium to be built by Mission Group in the University District.
U-Eight features 90 homes and previous buildings, U-Seven and U-Six, sold out in one weekend.
“U-Eight is the last chance for home buyers and investors to take advantage of the high demand for University housing in Kelowna. More than 9,000 students are enrolled at UBCO but there are currently less than 1,700 beds on campus,” says Jessica Sorrell, director of sales and customer experience, Mission Group.
Investors and parents of students have the ability to earn monthly income and build home equity by renting the condominiums to their children and other students.
U-Eight will offer a selection of studios, one, two, and three bedroom homes. Prices at U-Eight are expected to start from the low 200’s. Built with students in mind, U-Eight features thoughtful layouts and floorplans that maximize space and revenue. Each home comes with a full kitchen, in-suite laundry, and every bedroom has its own bathroom.
“Kelowna’s low rental vacancies, the growing demand for housing at the University and current rental rates create a very attractive opportunity for investors and parents of students,” says Sorrell. “U-Eight will bring another 90 homes to the University to assist with the shortage of campus housing.”
Sales for U-Eight will begin in the new year and construction is projected to start in the Spring of 2019 with completion at the beginning of the Fall 2020 semester. The highly anticipated community is expected to sell out quickly. Interested parties should register at www.liveatueight.com to receive more information as soon as its available.
U-Eight and the UBC Okanagan Campus are part of the U-District and conveniently located near the airport. The Kelowna International Airport now serves 1.6 million passengers annually, offering more than 60 daily non-stop commercial flights with nine airline partners. It is the 11th busiest airport in Canada with a total economic impact of 4,545 jobs and $789 million in total economic output to the province of British Columbia.