When it comes to building homes, Panatch Group strives to bring quality construction, community involvement, excellence and vision to every development. Such is the belief of owner Kush Panatch, who says every project he is involved in should stand the test of time.
“We work to create long-lasting value—not just something that’s good for the day.”
Since starting his residential, commercial and industrial real estate development business nearly 30 years ago in Richmond, Panatch has always endeavoured to construct quality buildings while also helping to strengthen the local community.
One such example is 50 Electronic Avenue in Port Moody, where 358 homes are under construction in two phases across from Rocky Point Park, close to SkyTrain and shopping.
In addition to creating a livable community where residents will have access to shops and services, 50 Electronic Avenue will also provide residents with a co-working space, a fitness centre, a guest suite, a bike repair workshop and a dog wash room in a 9,000 square foot amenity building called Club 50. It also offers a private, one-acre elevated backyard with urban agriculture plots, outdoor dining space, playground, dog run, great lawn and five distinct courtyards.
“We tried to think of what people’s needs are and to put in amenities they would find useful,” Panatch says.
This kind of thoughtful development is called “community building by design,” a term that Panatch’s daughter, Eshleen, came up with to describe how Panatch developments are planned to create and support community.
Another Panatch innovation is a popular rent-to-own initiative that garnered public attention for creating a workable solution for would-be homeowners struggling to save for a down payment.
In the sold out rent-to-own program, 30 homeowners will pay a fixed rent for two years while they live in their new home at 50 Electronic Avenue, after two years all of that money will be converted into equity for their down payment.
The beneficiaries were chosen via lottery from 500 who applied, and Panatch believes the rent-to-own program at 50 Electronic Avenue will make a difference in people’s lives.
It’s also important for the Panatch Group to give back to the community.
For example, the Panatch Group recently generated support for local businesses grappling with the COVID-19 pandemic with its “I Heart Port Moody” campaign. During July and August of 2020, new purchasers in Phase 2 of 50 Electronic Avenue were each given $1,000 in gift cards to spend at ten Port Moody businesses.
The gift cards gave an immediate $100,000 boost to these ten local businesses while also bringing new customers through their doors.
“It builds on the same idea of being helpful in the community, we saw that COVID-19 was having a big impact on a lot of small businesses and we asked ‘How can we help?’”
Through his vision, and the construction of quality developments such as 50 Electronic Avenue, Panatch hopes to leave a legacy in Port Moody for years to come, a legacy that will be adopted by his adult children, Eshleen and Aman, who are now part of the family business.
“I’m hoping my legacy is one of having a reputation of standing by my word, supporting community and building quality projects.”
For more information, visit www.panatchgroup.com.
