Coldstream

Coldstream, BC

Let’s be clear about Coldstream: it’s not Vernon, but it’s inseparable from it. Functionally, it serves as Vernon’s more affluent, scenic sibling, wrapped around the northern end of Kalamalka Lake. The defining feature here is the lake itself—the one that turns a wild turquoise colour, making it the postcard shot of the North Okanagan. This isn’t a bustling town centre; it’s a district municipality where lifestyle, driven by lake access and rural-suburban living, is the primary draw.

The housing stock is exactly what you’d expect from that description: overwhelmingly single-family detached homes, many with lake views that command a premium. The market is driven by retirees, Okanagan lifestyle buyers, and a steady trickle of second-home purchasers. Demand is consistent because development is naturally constrained by the lake on one side and the hills on the other. Population growth is slow and stable, not speculative. This predictability is something we look for. It’s a market that holds its value because its appeal is tied to geography, not a fleeting economic boom.

From an economic standpoint, there’s no single engine driving Coldstream. Its proximity to Vernon means residents tap into a broader, more diverse economy. The top industries—healthcare, retail, and construction—are foundational service sectors, not volatile, single-resource employers like a mill or a mine. While the median household income is solid at $110,000, the 7.8% unemployment rate is worth noting. It speaks to a stable but not high-growth economy. We see this as a balanced risk profile; it’s not dependent on one industry, which insulates it from sector-specific downturns.

From a lending perspective, Coldstream checks a lot of boxes for us. The consistent desirability, fueled by retirees and lifestyle seekers, translates into strong and predictable resale potential. If we have to foreclose, we have a good understanding of how long a property will take to sell and at what price. The appeal of Kal Beach and nearby Silver Star Mountain provides a year-round floor for property values.

This is a core Okanagan market for Tekamar, but it’s not Kelowna or Victoria. We lend here with confidence, but with an appropriate buffer for a smaller, non-urban community. Our maximum loan-to-value in Coldstream is 65% LTV. The typical deals we fund are for bridge financing, equity take-outs for renovations on well-maintained homes, or second mortgages for borrowers with solid assets. It’s a community built on lifestyle, not speculation, and our lending approach reflects that reality.