A one-of-a-kind community is coming to the heart of Penticton, and you get only one chance to be the first to buy.
Innovation District is a transformative development offering a unique opportunity to be at the forefront of a vibrant community, with sales for its inaugural phase launching soon. Nikola presents the first opportunity to call this master-planned community home, offering just 127 homes ranging from studio to three-bedroom configurations, along with exciting commercial retail units. The building is adjacent to Ellis Creek and will be six storeys in height, featuring a rooftop deck with views of the surrounding hills and Skaha Lake.
“Now is the only time that you can be the first person to purchase real estate at the Innovation District,” Stryke Group managing director Rocky Sethi says. “It is the most significant community in the Okanagan, and we take that statement very seriously.
“So whether you’re interested in office space or residential or retail and want to build a business or build a life, Innovation District is something you should have on your radar.”
When all seven phases are said and done, the project from Tien Sher Group and Stryke Group will feature more than 1,500 homes, restaurants, cafes, medical services and clinics, offices, childcare and more on the 10 acres of land. It will also be right across the street from Penticton Regional Hospital, which is in the midst of notable expansions and upgrades.
The appeal of Innovation District extends beyond its real estate offerings. Located in the middle of Penticton, the district is a stone’s throw away from essential services. The area also boasts quick access to the town’s two lakes, promoting an active, healthy lifestyle supported by expanding bike and pedestrian infrastructures.
Residents can look forward to a variety of amenities designed to enhance community living and personal well-being. These include a gym, co-working spaces, podcasting rooms and a technology-friendly environment featuring super-fast fibre internet. The development also prioritizes sustainable transportation options, with provisions for e-bikes and e-scooters, encouraging residents to embrace a car-free lifestyle.
In addition to practical amenities, the district will feature a rooftop deck offering stunning lake views perfect for entertaining or simply enjoying the outdoors.
“We thought about amenities that actually make your life better as opposed to loading the building up with a bunch of stuff that just looks nice on paper,” Sethi says. “We wanted amenities that actually made your life better. And that culminates with the rooftop deck, from which you’ll be able to see the lake, entertain friends or just get out there and enjoy the weather on your own.”
Tien Sher Group president and CEO Charan Sethi says Innovation District will be its own community within a community. The village will have numerous commercial offerings and its own walking trails, providing social and neighbourly connections right outside your front door.
Innovation District will try and address the City's massive housing shortage, with vacancy rates under 1.5%
“We’ve heard from the industrial community that they’re having a hard time recruiting people because people have no place to live,” Charan Sethi says. “According to the city’s housing needs assessment completed in 2023, the industrial, health care and other business sectors are all having a hard time recruiting people because people have no place to live.”
With homes starting from $279,000, Innovation District is set to provide attainable luxury in a market that has traditionally been challenging for many to enter. The low vacancy rates and high demand for housing underscore the urgent need for such a development.
For those looking to make a smart real estate investment in one of Canada's fastest growing regions, Penticton’s Innovation District represents a prime opportunity. Register now to be part of this groundbreaking project and embrace a lifestyle of innovation and connectivity.
For more information and to register for your chance to be among the first to experience living in the Innovation District, visit its registration page here.
