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Kelowna  

Easing city's rental crunch

Kelowna’s rental vacancy rate is expected to be higher when the next numbers are released – and projects like Highstreet’s Mission Flats are helping relieve the pressure.

The 280-unit complex on K.L.O. Road, which held a ceremonial grand opening Friday night, consists of five buildings, the first of which opened in March and the final one in August. Apartments and townhouses were all snapped up quickly.

“This community needs it,” Highstreet vice-president Pino Mancuso said as residents enjoyed food, music and draw prizes around him. “People are looking for a place to live. And if (the rental vacancy) goes up to two per cent and we’re priced right, we won’t have a worry.

“It’s not just about the rents. It’s about having tennis courts. It’s about having a car-share program. It’s about building the communities differently.”

The City of Kelowna has offered tax incentives for companies to build affordable rental units. 

For more on this story, visit Okanagan Edge.



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