Kelowna Gets Major Housing Boost with Centurion Set to Deliver 401 New Rental Homes at Parkview Valley
KELOWNA, BC, July 11, 2025 /CNW/ - Centurion Asset Management Inc. (Centurion), in partnership with Ironclad Developments Inc. (Ironclad), celebrated the grand opening of Parkview Valley Apartments on July 9th, marking the completion of the first phase of a mid-rise apartment complex that brings 156 new rental suites to Kelowna. The celebration was attended by residents, representatives from Ironclad and Centurion, as well as Stephen Fuhr, Member of Parliament for Kelowna, Kristina Loewen, Kelowna Centre MLA, and Luke Stack, Kelowna City Councillor.
When fully completed, Parkview Valley will consist of five 6-storey mixed-use apartment buildings, featuring a total of 401 residential units and ground-floor commercial spaces. This marks Centurion's fourth property in the Okanagan Valley, following the 2023 acquisition of Knox Village—a 238-suite community also located in Kelowna.
These units feature a diverse range of layouts, including studios, 1-bedroom, 2-bedroom, and 3-bedroom apartments, all designed with modern interiors and community-focused amenities. Residents will enjoy access to a fitness centre, a children's play area, multiple rooftop patios and secure underground parking. Notably, the property includes one of the largest underground parkades in British Columbia, offering ample, safe parking to residents.
The development is a joint venture partnership between Centurion and Ironclad, with Centurion also serving as the property manager, ensuring professional oversight and long-term operational excellence.
At the time of project initiation, Kelowna faced a critically low rental housing vacancy rate, reflecting the broader housing challenges experienced throughout British Columbia's interior. The Parkview Valley Apartments development was highly anticipated, bringing much-needed new rental housing stock to the rapidly growing Okanagan region. Parkview Valley Apartments is strategically located to provide residents with convenient access to downtown Kelowna, recreational amenities, and employment centres throughout the region.
"As Kelowna continues to grow—attracting new residents and businesses—the need for quality rental housing is increasing," said Mayor Tom Dyas. "Developments like Parkview Valley reflect the kind of forward-thinking approach that helps ensure Kelowna remains an affordable and welcoming place for families, while also supporting the long-term economic health of our city."
"At Centurion, we recognize that addressing Canada's housing crisis requires deliberate action and strategic investment in communities where the need is greatest," said Stephen Marshall, Executive Vice President of Operations at Centurion. "Kelowna represents exactly the type of dynamic, growing market where purpose-built rental housing can make a meaningful difference. We're proud to deliver quality homes for more than 150 families in this exceptional community."
"This project exemplifies Ironclad's commitment to creating vibrant, sustainable communities that enhance the fabric of our cities," said Ryan Van Damme, President and Chief Executive Officer of Ironclad Developments Inc. "Our partnership with Centurion has allowed us to bring our expertise in thoughtful design and community development to address Kelowna's housing needs. We're particularly proud of the environmental features and community amenities that will make Parkview Valley a place residents are truly excited to call home."
Built with sustainability and modern living in mind, Parkview Valley Apartments features several environmental initiatives, including energy-efficient building systems, high-efficiency appliances, and on-site electric vehicle charging stations. A significant portion of the development is powered by solar energy, further reflecting the region's commitment to clean and renewable power sources. Thoughtfully designed community spaces also contribute to a more connected, eco-conscious living experience for Residents.
"Parkview Valley Apartments fills a critical gap in Kelowna's rental market," said Marshall. "We've designed this community to offer residents not just a place to live, but a place to thrive. From the modern amenities to the sustainable features, every aspect has been planned with our residents' quality of life in mind."
About Centurion Asset Management Inc.
Centurion Asset Management Inc. is a leading asset management company specializing in private alternative investments across real estate and corporate and mortgage financing.
Centurion currently manages $7.8 billion in assets across its multi-residential, student housing, and medical office portfolios.
With a growing presence in 45 cities across Canada and the U.S., Centurion is committed to providing high-quality rental housing, supporting real estate development, and delivering strong, stable returns for investors.
For more information about Centurion, please visit centurion.ca.
About Ironclad Developments Inc.
Founded in 2014, Ironclad Developments Inc. is a national leader in the development and construction of luxury multi-family rental communities across Canada. With more than 3,500 purpose-built rental units delivered in key urban markets—and several active projects currently underway—Ironclad is setting a new benchmark for modern rental living.
Each Ironclad community is thoughtfully designed to meet the evolving needs of today's renters, offering high-quality construction, premium amenities, and a focus on lifestyle and connection. From site acquisition and planning to development, construction, and asset management, Ironclad's vertically integrated model ensures both operational excellence and long-term value creation.
As demand for high-quality rental housing continues to rise, Ironclad remains strategically positioned to lead the market through disciplined growth, innovation, and an unwavering commitment to quality and service.
Learn more at www.ironcladdevelopments.ca
SOURCE Centurion Asset Management Inc.
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