WATCH: The Kelowna micro suites expected to sell out in days

• Micro apartments are expected to sell out instantly
• Some are as small as 312 sq/ft

Amid the ever-spiraling cost of a home in Kelowna, a new development promises what appears to be genuine affordability - as long as you’re prepared to go small.

But that has done nothing to dull interest among potential buyers.

The project is offering homes starting around $300,000 lower than the benchmark price for a condo in Kelowna ($557,000).

The tradeoff will see buyers embrace a minimalist space, while enjoying better amenities, design, technology, and lifestyle, according to the developers.

The Five Crossings apartments are being built on Sutherland Avenue near the Capri Centre. There will be just over 200 units comprising of studio, one-, and two-bedroom homes, ranging from as little as 312 to 861 sq/ft.

The starting price for the smallest units will be in the mid-$200,000s, according to Millennial Developments.

“Our demographic is 20 to 34 year olds, and we want to create an opportunity for younger people to be able to get into the market, “ Ryan Tamblyn told Kelowna10. "There’s a significant segment of our population in Kelowna that are essentially shut out of the market.”

The development is laid out to enhance homeowner lifestyle by blending work, play, community and wellness into a thoughtful design supported by cutting-edge technology.

Tamblyn said there is 27,000 sq/ft of programmed amenity space all designed toward the younger demographic.

That includes recreational space with pool table, golf simulator, stage, projection television, kitchen and bar. There are innovative work and tech-friendly spaces, and a cutting-edge gym with tech smart equipment.

There’s a community garden, terrace private park and green space, a rooftop lounge with covered atrium, outdoor barbeque center, and yoga pavilion and ping pong.

While Tamblyn acknowledges this sort of development is not going to be suitable for everyone, the location of Five Crossings is the key.

“Because we’re in the Capri/Landmark area just outside of downtown, it’s the perfect location … we have a 98/100 bike score, we’re close to all transportation and close to the upcoming downtown UBC campus.”

“As the mayor said, we’re running out of land in Kelowna, we have to build up, in certain locations, and this is a great location for it.”

Tamblyn said his sales team is compiling a list of potential buyers who are registering with them and first-time homeowners will be given priority. He expects the entire 207-unit development to sell out within days once it's officially on the market at the end of the month.