Kelowna city council rejects highrise agreement, says proposed rent is unaffordable
Luke Stack, who noted Kelowna has a shortage of rental units, said studio units can be found online for much cheaper than $2,000 a month – more like $1,300 to $,1400 a month.
“This agreement says they have to rent them, potentially, up to $700 more than the market rate today,” said Stack. “So I’m just having a hard time squaring that with what’s making this affordable or attainable. It actually seems to be a very generous interpretation of what’s affordable.
“In the agreement, they could be charged for parking over and on top of that,” adding the proposal wanted the affordable housing option to be applicable for just 10 years,” Ron Cannan said. He’d like to see the affordable housing option to be in perpetuity, given that it’s public, not private, land.BC Housing, Burnaby reach financing deal to preserve threatened co-op housing
“This, to me, is a little bit disingenuous. It does not keep the spirit of what we would term affordable or attainable,” Mohini Singh said. The city said council voted unanimously not to sign the agreement, and the developer must come back with a revised agreement.
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