Kelowna blows past provincial housing target

Housing targets surpassed

Photo: Colin Dacre-file

It didn’t take long for the City of Kelowna to reach, and surpass, its year-one housing target imposed by the province.

In June of last year, the city was provided a target of 8,774 completed housing units within five years with annual unit targets along the way.

The first year target was set at 1,363.

The city is to report back annually with one interim report.

That report set for council’s eyes Monday shows the city completed 1,501 net new units over the first six months from July 1, 2024 to Dec. 31, 2024.

This includes 1,592 completions and 91 demolitions.

Along with the mandated number of units, staff also broke down the number of units by both tenure and affordability.

Over the six month period, 764 were rentals and 737 for sale units while 644 were market homes and 120 below market.

During that same six month period, the city issued 31 development permits and 114 building permits representing a total of 2,954 units which staff say will impact future reporting periods.

“The number of building permits issued during the reporting period is below the five-year average which could impact completion numbers in the fourth or fifth year of housing target reporting,” staff indicated in its report.

“Staff will need to continue their efforts to promote housing supply and meet the overall five-year target of 8,774 units.

“This work has already begun, and during and prior to the initial reporting period, staff have either implemented or made progress on multiple housing initiatives.”