This development is helping first-time buyers. Here’s how

Ryan Tamblyn relishes the memory of purchasing his first home.

Yet, for a significant number of millennials, that seems more like a bygone era than an attainable milestone.

And for Tamblyn, the founder and CEO of Millennial Developments Corp, that’s “a really big problem.”

That’s why his company is spearheading several projects in Kelowna tailored to meet that market demand. Their latest development, REVO Kelowna, in the rapidly rising Capri-Landmark District, has units starting in the upper $200,000s.

“A lot of our buyers are people in their 20s and early 30s, that are currently shut out of the market,” he explained. “But because of the type of units we are building here, they have the ability to get into the market for the first time.”

REVO’s 25 floorplans range from 314 sq/ft to just over 1,300.

And while boasting smaller floorplans, the suites and buildings are designed to adapt, such as with over 10,000 sq/ft of shared amenity space. This includes an outdoor Bluetooth movie theatre, cold plunge baths, and co-working spaces.

The design bucks the trend of growing indoor and shrinking yard space across North America in recent years. To help showcase how dynamic small spaces can be highly livable, his development company takes time to build out replica show suites for potential buyers to immerse themselves in.

“Generally, the idea in North America is that larger living spaces are fundamentally better, and we are challenging that idea,” he explained. “It’s not a new concept from a global perspective … but it is a new idea for North America.”