The BC Ministry of Housing has identified Kelowna and West Kelowna as part of a new group of communities that will receive specific housing targets. This comes after the initial list of 10 priority communities was announced last year.
Housing Targets Coming for Kelowna and West Kelowna
The exact number of units each community will be required to build over a five-year period is still to be determined and will be announced in the coming summer.
Minister Kahlon
Minister of Housing Ravi Kahlon stated that these communities were chosen due to their high growth rates and significant housing needs. The provincial government aims to collaborate with municipalities to address the housing crisis and increase the construction of affordable housing units.
Kelowna Recognized for Housing Leadership
Kelowna has been a leader in housing development over the past few years. Colin Dyas, the city's director of community development, acknowledged the province's recognition of Kelowna's efforts in housing innovation and development.
Infrastructure Grants a Potential Benefit
Dyas highlighted the potential benefits of this designation, including access to provincial infrastructure grants. These grants could be used to address Kelowna's growing infrastructure needs.
Kelowna's Housing Needs and Development Capacity
Kelowna's own housing assessment indicates a need for 2,000 to 3,000 new units annually to keep pace with projected population growth. While the city was able to advance over 4,000 units last year with potential for further development, Dyas cautioned about external factors impacting construction. These factors include interest rate fluctuations, rising material and labor costs, and ongoing supply chain challenges.
