Cadence
735 Morrison Avenue
50%
Funded
50%
Share of All Profit
12%
Targeted Annual Preferred Return
1440 Group has formed a Limited Partnership to develop an 8 Unit project in the heart of South Kelowna’s Pandosy neighborhood. 1440 Group is raising $2.0 million in equity from Limited Partner (LP) Investors (min $100K investment). The investment horizon is projected to be 16-24 months with funds from LP Investors due on or before April 2023.
Property Highlights
- Development Permit Approved.
- OCP Future Land Use is MF1
- Flat cleared lots, easy to build.
- 8 units, approximately 1200 SQFT.
- Rooftop Patios
- 4 units have attached single car garage.
- Premium rental market
Development Timeframe
- Development Status Planning and Design Phase
- Construction Begins Summer 2023
- Occupancy Date Summer 2024
50%
Funded
50%
Share of All Profit
12%
Targeted Annual Preferred Return
Cadence
735 Morrison Avenue
Property Specifications
This 2 lot land assembly with DP permit approval provides an opportunity to build 2 side by side modern fourplexes with rooftop patios.
The properties are highly walkable, and are situated just 5 minutes from Downtown, schools, retail/ grocery, restaurants, lake/beaches).
Steps to Kelowna general hospital.
Easily accessible with transit stops serving east & west destinations only steps away.
Gyro Beach, Rotary Beach and Kinsman Park and the Mission Creek Greenway are at the south end of the neighborhood.
Flat site, easy to build.
