The Innovation and Business Centre is set to become part of the newest hub for residential and commercial activity on Kamloops North Shore.
Joshua Knaak with ARPA Investments says it comes as construction on the Innova on Tranquille, a new six-storey apartment building with commercial spaces is set get underway in the next six months.
“There are two levels of commercial space and then four levels of residential space and I believe 60 housing units are going into that, ranging from studio suites to two bedrooms,” he explained. “It is quite similar to what we’ve built at the Station on Tranquille or Colours on Spirit Square; both of which were very well received.”
“There’s a pretty substantial parkade structure that is part of the construction, it’s four levels of parking for the commercial and residential spaces.”
Knaak says the location is a huge positive for the new hub – which will include the Kamloops Innovation Centre building at 348 Tranquille Road – owing to its proximity to businesses and services.
“I think one of the things that’s great about this corridor is how walkable it is, whether it’s grocery stores or its access to transit, etc., Knaak said.
“That’s one of the reasons why I think that people are choosing to live here.”
Knaak says they are expecting construction of the building and parkade to take two years.
“We’re going to be submitting for a building permit here very soon, our architects and engineers are finalizing the plans,” he said. “I would anticipate probably six months which gets us through into the spring, and then construction will probably take 24 months.”
The announcement comes as the Kamloops Innovation Centre announced earlier this month that it would be moving to a new location at Thompson Rivers University before the end of the August.
“We have had a great relationship with Kamloops Innovation for years and wish them all the best up at TRU, but we’re also so pleased that the many businesses leasing their space here at 348 Tranquille Road are staying with us, fostering that culture of sharing, collaboration, and innovation which makes this space so special,” said Knaak.
He says the hope is to have those currently in the old two-storey building move to a space in the new building next door.
“We’re calling it the Innova Business Center and working with the companies that are there and with companies that are interested in being in that space to create a brand new facility for them,” Knaak said.
Eventually, Knaak says they want to demolish the old building to create a new hotel in its place.