A four-unit townhouse in West Kelowna will be converted from rental housing to strata-titled units for individual sale, following a council vote that went against city staff香蕉视频直播檚 recommendation.
At council香蕉视频直播檚 June 24 meeting, property owner Brad Bredin applied to convert the 1988-built property at 2742 Riffington Place from rental units into strata units.
City staff advised council to reject the application, pointing to the city香蕉视频直播檚 draft Rental Protection Policy, which is designed to prevent the loss of rental housing. Though the policy is still in development, it currently exempts buildings with fewer than five units香蕉视频直播攂ut that could change once finalized later this summer.
Bredin, a former realtor, said the city香蕉视频直播檚 rental situation has improved in recent years.
香蕉视频直播淲est Kelowna has a healthy 3.7 per cent vacancy rate, resulting from a large number of rental properties built over the last few years,香蕉视频直播� he told council. 香蕉视频直播淒evelopers continue to build purpose-built rentals on the Westside, including numerous on Westbank First Nation land. What is not being built is affordable family housing.香蕉视频直播�
He estimated his townhouses would sell for between $420,000 and $430,000.
香蕉视频直播淭here香蕉视频直播檚 only one townhouse available on the Westside for sale right now under $450,000,香蕉视频直播� he said. 香蕉视频直播淪o there香蕉视频直播檚 a real need for this type of housing.香蕉视频直播�
Councillors Garrett Millsap, Stephen Johnston, and Mayor Gord Milsom voted in favour of the conversion.
香蕉视频直播淔or me, it香蕉视频直播檚 really easy to find a rental right now,香蕉视频直播� said Millsap. 香蕉视频直播淭he rental market is flooded. There香蕉视频直播檚 buildings that are vacant.香蕉视频直播�
Johnston wants to see more houses built that encourage ownership at different levels.
香蕉视频直播淚 actually think that香蕉视频直播檚 where we香蕉视频直播檙e going to be better off in the future香蕉视频直播攚here we can have Canadians owning homes and then saving for retirement via that homeownership model. Rental doesn香蕉视频直播檛 really handle that long-term.香蕉视频直播�
Mayor Milsom also supported the idea of expanding affordable ownership.
香蕉视频直播淎s far as ownership for affordability of homes, that香蕉视频直播檚 another aspect that香蕉视频直播檚 really important in our community, and these do seem to be priced well for young families,香蕉视频直播� he said.
Councillor Rick de Jong was the only vote in opposition.
香蕉视频直播淚 understand why the applicant wants to do what he wants to do,香蕉视频直播� he said. "And certainly, do we want to provide affordable housing for the community? You bet. 香蕉视频直播淏ut by the same token, we need to protect our rental stock so that we don香蕉视频直播檛 drop under three per cent.香蕉视频直播�
The provincial government requires municipalities to maintain a supply of rental units to meet at least a three per cent vacancy rate, and meet local demand.
香蕉视频直播淲e aren香蕉视频直播檛 seeing a lot of purpose-built rentals right now and our population is growing,香蕉视频直播� de Jong noted.
He also raised concerns about tenant displacement.
香蕉视频直播淪ome of those tenants just simply aren香蕉视频直播檛 in a position to purchase香蕉视频直播擨香蕉视频直播檓 actually going to support staff香蕉视频直播檚 recommendation today. It really is a tough one. I look at both directions and I could argue both ways.香蕉视频直播�
