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599 Clement & 1145 Pacific Multifamily Rental Development

Multifamily Rental Development Hero
Location: Kelowna, BC

Client: All In Investments Canada Ltd.

Project Description

All In Investments was the majority equity partner in two development projects in Kelowna, BC. As the project progressed, All In Investments felt they required additional development expertise to assess and improve overall management and performance, prior to construction. The client recognized that risk mitigation strategies needed to be implemented to maintain and control project performance metrics until completion. We began to forensically assess the projects’ performance with the goal of relaying the challenges and implementing risk control measures that protected All In Investments’ financial return. By reviewing all documentation, contracts, financing, and historical communications, we were able to identify and convey to the client where prior challenges in project management protocol had occurred and subsequently implemented best practices to safeguard the projects’ success.

Scope of Services

Colliers was engaged to provide Owner’s Representative and Development Management services for the two properties. Our services include thorough financial controls, project reporting protocols, and contract administration; financial monitoring and coordination with the General Contractor, consultants, and sub-trades; overseeing and closing out remaining tendering; monitoring of risk mitigation protocols and project management best practices; and creation of a lease up plan to meet asset stabilization objectives.

Outcome 

The development project was completed with occupancy in April 2021. Pacific Avenue is a 5-storey rental with 31 units. The Clement Kelowna, located at 599 Clement Avenue, was awarded the Urban Development Institute 2021/22 Award for Excellence in the category: Best of the Okanagan.

599 Clement Ave 1 


Development Advisory

For More Information, Please Contact:

Jaraad Marani

Vice President, Development Advisory

Vancouver - Rogers Tower

Jaraad leads the Colliers’ Development Advisory business for Western Canada with a team of 12  staff. He is responsible for all aspects of the business including oversight of the 10 redevelopment projects that are currently under approvals or construction.  Jaraad joined Colliers’ Strategy & Consulting Group in 2015. He has previous experience in urban planning, market research, public policy, real estate strategy, construciton & development work and organizational  capacity building. Jaraad has completed rezoning, construction and occupancy  of 7 various  residential, mixed-use, and commercial projects. His most notable projects include management of the redevelopment of the Vancouver Masonic Centre in Vancouver, which now stands as a 16-storey tower with 150 units of residential and 40,000 sf of commercial space, and the redevelopment of the Canadian Cancer Society’s Centre for Cancer Prevention. Jaraad also oversaw the joint venture redevelopment of Ashley Mar Housing Co-operative with Intracorp Homes and Oxford Properties. That completed rezoning will see the creation of 650 units of housing in Vancouver. 

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Kristina Louie

Senior Development Manager

Vancouver - Rogers Tower

Kristina is a Development Manager with Colliers Strategy & Consulting team. She is responsible for supporting a Development Management portfolio that consists of public advisory, commercial redevelopment, condominium development, and purpose-built rental and affordable housing redevelopments throughout British Columbia.

Kristina has previous experience in consulting, construction management, and marketing. Her diverse experience has helped her form an integrated approach to real estate development and the ability to adapt to the needs of any project. Kristina brings strong work ethic and efficient project management to the team. She emphasizes open and proactive communication with clients and stakeholders in her approach to managing developments successfully.

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