City partners with Troika Developments to build affordable units for middle-income families.
The City of Kelowna is collaborating with Troika Developments to establish two new affordable housing projects aimed at middle-income families.
These developments, situated on City-owned land in Glenmore and Rutland, will collectively provide 195 rental units, with 40 percent available at below-market rates.
Below-market units will align with the City’s affordability standards, capping rents at a maximum of 30 percent of annual incomes ranging from $80,000 to $120,000.
Mayor Dyas emphasized that affordable housing is a council priority, highlighting the role of innovative projects in offering diverse housing options and supporting the local economy.
The initiatives are part of Kelowna’s Middle Income Housing Partnership, partially funded by Canada’s Housing Accelerator Fund.
Construction is scheduled to begin in late 2025 on the Rutland and Glenmore sites, which will host 127 and 68 units, respectively.
Renee Merrifield, CEO of Troika, expressed pride in developing these projects, underscoring the company’s commitment to sustainable and thoughtfully designed community enhancements.
Kelowna’s Middle Income Housing Partnership forms part of the broader Housing Action Plan, addressing housing challenges such as affordability.