OKANAGAN REAL ESTATE COMPANY

WINE OF THE OKANAGAN  

British Columbia’s Okanagan Valley spans 300 kilometres (200 miles) and lush vineyards thrive on more than 5,000 acres of this spectacular landscape. The region’s climate is characterized by hot, dry summers and moderate winters and boasts more hours of sunshine than California during peak-growing season.  Kelowna is an ideal destination from which to explore the area, as it is situated in the middle of the Okanagan Valley and is home to the Valley’s only international airport. From Kelowna over 60 wineries in the Okanagan, 12 of which are in the immediate Kelowna area, are easily accessible for day-trip

GETTING TO KELOWNA  

Kelowna enjoys convenient air connections with major Canadian and US airlines and highways between Canada’s western provinces and the states of Washington, Idaho, and Montana make Kelowna a popular drive destination as well.  

Kelowna International Airport is the third busiest airport in British Columbia and the 11th busiest in Canada. A 76,000-square-foot terminal building includes as international arrivals area with 24-hour customs facilities, a business centre, a duty free shop, a wine shop, car rental agencies and food and beverage facilities.  

Air Canada, Regional One, Horizon

THE OKANAGAN VALLEY OVERVIEW

The Okanagan Valley of British Columbia’s southern interior is refuge for nature lovers, adventurers, and recreationalists alike. The region’s unique landscape enjoys a moderate climate – a fundamental factor in the area’s commercial successes and a major reason why Kelowna is one of the fastest growing cities in BC. There are more than 300,000 residents in the Okanagan Valley. Kelowna, the largest city in the valley, boasts a population of 111,000 and is described as the gateway to the Okanagan as it is home to the region’s only international airport.

The area is home to hundreds

KELOWNA OVERVIEW

Midway between Vancouver and Calgary, nestled between the Cascade and Costal mountain ranges, lies Kelowna, the largest city in British Columbia’s Okanagan Valley.

Kelowna International Airport is the only international airport in the region. Currently, the airport services more than 30 direct departures a day to Seattle, Vancouver, Victoria, Calgary, Edmonton and Toronto, among others.

With a population of over 111,000, Kelowna and the surrounding area border beautiful Okanagan Lake, a 110-kilometre (68-mile) long waterway that joins Kelowna with Vernon to the north and with Penticton to the south.

ECONOMIC OVERVIEW  

Kelowna is the centre of economic and business activity in the Okanagan Valley and is the largest trading centre between Greater Vancouver and Alberta. The economy is reasonably diverse with primary employment sources including manufacturing, construction, health and social services and retail trade, accounting for 46% of total experienced labour force. Major regional emplyers include School District 23, the Kelowna General Hospital and UBC Okanagan.  

Major commercial and institutional developments during the last 5 years include Prospera Place, the Grand Okanagan Resort expansion, and the Kelowna International

TRAFFIC COUNTS AND TOURISM  

Highway 97 provides a continuous corridor through Kelowna and the Okanagan Valley with external linkages to the United States, Highway 1 and the northern half of British Columbia. Tourism generates approximately $835 million in the Okanagan Valley annually with 53% of tourists visiting Kelowna in the summer.  

Kelowna features the second fastest growing airport in North America. Located in the north east sector of the City, the Kelowna International Airport is in the final stages of a $20 million dollar expansion and provides direct passenger and cargo service to Vancouver, Calgary, Seattle and other

POPULATION PROJECTIONS  

The British Columbia Ministry of Finance and Corporate Relations has declared population projections for each of the province's regional districts. These projections suggest that the Regional District of Central Okanagan will, over the next 20 years, grow at an average annual rate of 2.24%. This would, by 2020, result in a regional population of approximately 240,000. The province's population projections are based on the following assumptions:  

declining birth rates aging of the baby boomers increasing life expectancy migration of retirees from teh rest of the country    The

Kelowna's Population  

In May 1997, BC Stats prepared population projections for each of the Province's Regional Districts. Taking into account declining birth rates, ageing Baby Boomers, increased life expectancy and migration, these projections suggest that the Central Okanagan Regional District will, over the next twenty years, grow at a rate of 2.24% per annum. By 2020, it is estimated that the region's population will be approximately 240,000.  

In terms of population, Kelowna is British Columbia's largest city outside the lower mainland. Kelowna has seen dramatically fluctuating growth since 1973. In the

LOCATION:    

Kelowna is the largest urban community in the interior of British Columbia situated 50 km south of Vernon and 65 km north of Pentiction. The regional District of Central Okanagan (RDCO), the centre of business activity in the Okanagan Valley, is located 400 km north east of Vancouver, a 4 hour drive via the Coquihalla Highway and Okanangan Connector.  

POPULATION:   With an increase of 13.5%, British Columbia (BC) had the fastest growing population of any province or territory in Canada between 1991 and 1996. 2001 Census data indicated that the province has grown 4.9% since 1996. By comparison,

The MARKET VALUE of a property is the most probable price which  property should bring in a competitive and open market under all conditions requisite to a fair sale; the buyer and seller each acting prudently and knowledgeable, and assuming the price is not affected by undue stimuli.