The Construction Source

NOVEMBER 2020 upscale luxury condominiums here,” he says. “So I knew there was a segment of the market that wasn’t being serviced. They are the original Baby Boomers who moved out here 15 to 20 years ago, and are now in their late 60s and early 70s.” “The challenge they are having is that they want to be in a condominium for the lock-and- leave and more maintenance- free lifestyle, but they don’t want to give up the customization, the luxury and the privacy they have in their current custom home. There are very few developers in Kelowna putting up bigger condominium units that cater to their demographic.” Vineyard Developments, however, is especially suited to fill that niche due to their history. They have over a decade of experience working on high-end custom homes and servicing those clients accordingly. “We have a very strong understanding of what those clients desire and need and want,” he says. “We know where the money needs to be spent and where it doesn’t. We know how to market to that segment, and we know how to service that segment. Most developers don’t have that background. They want to stay in the larger bread and butter segment of the market.” As a result, Craig says that 450 Parc does not have a lot of competition at the moment. It is Kelowna’s only upcoming luxury six-storey condo development built entirely of concrete and steel. It’s a “totally different product, a totally different price point, and a totally different customer and a small strata.” “That was important to me,” Craig says. “I wanted to bring something totally different to the market.” Moving forward, Vineyard Developments aims to continue to deliver that difference. They especially want to keep doing it in the multi-residential sector, which Craig says is his true passion. “I love assembling a property,” he says. “I love figuring out what the market needs, what I want to design, how I want to design it, the price point it needs to be at, how to construct it, putting together a marketing package, selling the units – that’s where my passion and my skills and abilities lie. I want to spend most of my time and attention focusing on that.” “And it’s really important to me to bring something exceptionally unique to the marketplace,” he concludes. “I don’t want to be competing against four or five other developers who are building a similar type of product at a similar type of price point. I want to put together a product for a segment of the market that’s not being well-serviced, for a group of people that have exquisite taste and want the ‘wow’ factor.”