Our latest addy is in beautiful and historic Vernon, B.C. where rich history and stunning scenery continue to attract people to the area. Nestled in the Regional District of North Okanagan, the city hosts a popular annual Winter Carnival while offering countless outdoor activities and adventures throughout the year.
Vernon is also the oldest incorporated city in the Okanagan region, rife with fascinating stories and heritage sites. Here are just a couple you can encounter when you visit Vernon.
addy in Vernon
The latest addy is a mixed-use two-storey building in the heart of Vernon. Five residential apartments and four retail units, including a popular Greek restaurant, comprise the building located at 3222 30th Avenue. This street is a popular east-west thoroughfare; the building sits on the corner of 30th and 33th Street, which runs north and south. Its also just a block away from Route 97 that runs through the province.
In addition to being a value-add investment that hopes to earn distributions through some cosmetic upgrades and renovations, the building is also a heritage-designated site by the city of Vernon
J.S Colton-Fox Building
Built in 1904, this corner site boasts a hip roofed classic box design with decorative diamond shingles in the corner gable. In downtown Vernon, it stands today as a rare wooden structure.
The building is named after a successful Vernon businessman from the turn of the 19th century. The site originally housed a drugstore for Colton-Fox called R.E. Berry Drugs. Over its more than 100-year existence, it’s been home to a variety of stores and retail, including grocers, a barber shop, a pool hall and a leather shop .
The current tenants are Samosa Joes, Dorian’s Greek Taverna, Dean’s Tailor Shop and Local Losers art supply store and gallery, all of whom are strong, enduring tenants with stories to tell.
Vernon Bank of Commerce
Our addy investment property isn’t the only site in the area that is a heritage building. Just a two minute walk down the street is the historic Vernon Bank of Commerce at 3117 30th Avenue. This two-storey concrete building was erected in 1913-14 in the Beaux-Arts architectural style.
According to the Vernon Heritage Register, ”the use of two-storey pilasters, high cornice, and extensive overhanging roofs emphasizes the grandeur of the building and creates the illusion of size.” The windows on the first and second storey are symmetrical, and each boast a decorative keystone that offers a classical and timeless look to the facade.
The Vernon Bank of Commerce is also a symbol of success and status. In the decade prior to it being built, Vernon’s population grew quickly as the city became a popular hub in the Okanagan valley. The bank stayed there for almost a century before moving and giving way to a restaurant that currently occupies the historic building.
Crowdfunding real estate
addy breaks down barriers to real estate investing by enabling average Canadians to put as little as $1 towards a property. Notably, addy is not a REIT, which means you know exactly what you’re investing in. Some examples include a smart hotel in Montreal, a Starbucks in Chilliwack and an affordable housing development in Hamilton.That means you can also physically visit these investments and enjoy the culture and heritage of the area and all they represent.
