Real estate deal worth $22M

A $22-million real estate deal is proof Kelowna is still one of the hottest markets in Canada, realtors say.

“The recent sale of the Kirschner Mountain Development in Kelowna for $22 million is proof that entrepreneurs from across the country are seeing the economic value in investing big in Kelowna’s residential housing market,” said Max Carbone, managing partner of Century 21 Assurance Realty, in a news release.

He co-listed the property with realtor Mark Boppre in 2019.

Allan, Don and Gordon Kirschner owned the Kirschner Mountain project. Their father started it when he bought 640 acres for a ranch back in 1958. Kirschner Mountain was established in 2003 by the Kirschner family who completed the first four phases of single-family lots as of 2019. The remainder of the property is slated for residential and commercial mixed-use development.