Eighty new apartments are now available for what the province is calling “middle income” households in Kelowna.
Located at 726 Clement Ave., the six-storey, rental-only building provides one- and two-bedroom rental homes for households with incomes ranging between approximately $52,000 and $71,000. Residents started moving in on Sept. 1, 2020.
A second 77-unit building is also planned for the area and is set to be completed by December.
Prices on the units – $1,300 for a one-bedroom and $1,550 for a two-bedroom – are slightly lower than area-average prices according to a September Padmapper report, though by only a slim margin for the two-bedroom units. The report plots the average one-bedroom apartment in Kelowna at $1,550 a month and two-bedroom units at $1,790.
“Providing a variety of options across the housing spectrum is essential to meeting the needs of all Kelowna residents,” said Kelowna Mayor Colin Basran. “As more of the population relies on rental housing, purpose-built rental housing in Kelowna will only become more important so residents have access to attainable and affordable housing.”
The project was built by PC Urban Properties through BC Housing’s HousingHub program, which was created in 2018 to “create new affordable rental housing and home-ownership options for middle-income British Columbians.”
The province said the 157 new units are part of the nearly 1,300 affordable homes it is hoping to build for people with a range of incomes in Kelowna and West Kelowna.
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