Residents are moving into the Station on Tranquille on the Kamloops North Shore as the building was officially opened today.
ARPA Investments partner Joshua Knaak says it’s a great feeling to see the project at 280 Tranquille Road come to fruition on time and on budget.
He says buildings like the Station will help revitalize the North Shore.
“Certainly will if more people are living here. There’s more support for the businesses,” Knaak told Radio NL. “There’s more businesses that can open up like the brewery that’s happening, and we’re not the only ones doing developments here,” he said.
“I mean, there’s more happening further down the road, and other things that will be rolling out in the next little while, so it’s an exciting time to get into this neighbourhood.”
The new building has 47 condo units, most of which have already been sold, and a pair of commercial units that have also been spoken for. Both Bright Eye Brewing and the Xchange – a research and collaboration facility between Thompson Rivers University and the United Way Thompson Nicola Cariboo – expect to be open in the coming weeks.
Mayor Ken Christian says he’s especially pleased about the location and the investment the new building brings to the North Shore, noting there are no shortages of economic opportunities along the Tranquille corridor and he’s excited for the future.
“North of $12 million investment on Tranquille Road and kudos to Arpa Investments for their confidence, not only in Kamloops, but this particular part of Kamloops,” he told the crowd of about 25 gathered on the sixth floor patio of the building.
“The micro-suites which is really something innovative and something that’s popular in other parts of North America and I think it will be here in Kamloops. Particularly for first time home buyers.”
With this project in the bag, Knaak is hoping to get work started on the second building at the Spirit Square development sometime this fall.
“That’s 7,000 square feet of commercial space and 35 residential units and we’re still moving ahead with the redevelopment on the Kamloops Innovation Centre site with a commercial building in the middle, potentially a hotel on this side, sort of right up next to the Station and a redevelopment there,” he added.
Knaak says The Station was his team’s first build on ‘the Shore’ and notes the building is a testament to the hard work of the many people involved in the project.