More Development in Penticton
Posted: Jan 29th, 2013, 11:33 pm
Work seems to have started for the approved high end retirement complex at the corner of Wilson and Yorkton.
I am puzzled by developers who continue to be build condos etc. given the inventory of condos and townhouses that remain vacant or for sale at greatly reduced prices or end up with rentals. Just does not seem like good business decisions.... I am also surprised that our Council continues to approve more development.
Does anyone have any thoughts on rationale behind all this?
Who are the target retirees for this latest development? In my personal experience the retirees that can afford a higher end retirement accomodations seem to be mostly from cities like Vancouver . For this group, Kelowna and Osoyoos seem to be their preferred destination. We do have lots of retirees from prairies who prefer to be in their own home with some private outdoor space it seems. I must be missing something . Can anyone enlighten me? Who is the target group of retirees this latest development is hoping to attract?
I am puzzled by developers who continue to be build condos etc. given the inventory of condos and townhouses that remain vacant or for sale at greatly reduced prices or end up with rentals. Just does not seem like good business decisions.... I am also surprised that our Council continues to approve more development.
Does anyone have any thoughts on rationale behind all this?
Who are the target retirees for this latest development? In my personal experience the retirees that can afford a higher end retirement accomodations seem to be mostly from cities like Vancouver . For this group, Kelowna and Osoyoos seem to be their preferred destination. We do have lots of retirees from prairies who prefer to be in their own home with some private outdoor space it seems. I must be missing something . Can anyone enlighten me? Who is the target group of retirees this latest development is hoping to attract?