The Central Okanagan’s largest master-planned community has had a major impact on Kelowna's economy
Story by: Kayleigh Zinger
Wilden’s story begins years ago, back when the first parcels of land were purchased between 1995 and 1998.
Today, the neighbourhood has been built into the Central Okanagan’s largest master-planned community, and construction continues. At 30% of the way to completion, Wilden has already had a significant impact on the local economy.
Wilden's impact so farWilden’s first phase consisted of four neighbourhoods: Long Ridge, Terrace Hill, Still Pond and Hidden Lake.
Lot sales began in 2003, when the average price of a lot was $120,000 and the average cost of building the homes was $250,000.
The first lot sale was completed on September 12th, 2003 and construction for the first homes on Long Ridge Drive was completed during the spring and summer of 2004.
Wilden’s very first resident actually still lives in the neighbourhood!
Each year, 40 to 50 homes have been added to Wilden.
Today, Wilden is currently on its second phase of development and boasts 730 homes with approximately 2,400 residents. The average price of a non-view lot has grown to $250,000, and the average construction costs for a single family home to $400,000.
The estimated value of all of the homes built so far is upwards of a whopping $500 million.
Not only have the sales of these homes contributed to the local economy, but the planning and construction has created countless jobs (construction costs so far are roughly $255 million).
Wilden's futureWilden’s second phase, which is partially complete, is a big one to say the least.
12 neighbourhoods from phase one and two are now complete, 11 of which are already sold out, and five more are currently in the planning. As of today, Wilden has 10 lakeview lots for sale, and 105 single-family lots will be released in the fall. An additional 100 single-family lots are planned to be released in 2019.
Another exciting element of phase two is the Wilden Village and Market Square - the future social centre of Wilden. The Village and Market Square will be comprised of shops and parks, and will be both a commercial hub as well as a venue for markets and events.
Wilden is moving quickly towards self-sufficiency as it will soon be not only a place to live, but a place to work, play, shop and socialize with several amenities right at the centre of the neighbourhood.
Wilden’s master plan also includes a third phase, planning of which will begin soon.
Upon its completion, Wilden will be made up of 2,800 homes - roughly 1,800 single-family units and 1,000 multi-family units such as townhomes and apartments.
To date, this master-planned community has added half a billion dollars to the local economy. At just 1/3 of the way there, Wilden's long-term impact will be in the billions, and its creation will mean countless jobs and substantial economic benefits in the Central Okanagan.
Spread over the hillside along Okanagan Lake, a short 10-minute drive from downtown Kelowna, lies Wilden, a community that has mastered the art of growing in population without losing its pristine beauty. Half of the roughly 1,500 acres will always be preserved as natural open space or public parkland. NowMedia sponsored content is written and posted in partnership with participating businesses. While NowMedia retains editorial control of sponsored content, the content is created in collaboration with the sponsor.
