BC Government Sets Housing Targets for Kelowna and West Kelowna

The BC government sets housing targets for Kelowna and West Kelowna, aiming to tackle the affordability crisis with provincial funding and monitoring. The initiative seeks to ensure an adequate supply of affordable homes in high-need communities.

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Sakchi Khandelwal
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BC Government Sets Housing Targets for Kelowna and West Kelowna

BC Government Sets Housing Targets for Kelowna and West Kelowna

The British Columbia government has announced that Kelowna and West Kelowna will receive housing targets for the next five years, with the goal of building thousands of affordable homes with provincial funding and monitoring. The province introduced the Housing Supply Act in 2023 and established housing targets for the first 10 priority municipalities. Kelowna and other communities have already received millions in government funding for housing.

The province will work with the municipalities to achieve their targets, which will be announced this summer. The goal is to address the housing crisis and build more affordable homes for people who need them, building on the work the municipalities are already doing. Kelowna and West Kelowna are two of the 20 priority communities selected to receive housing targets for the next 5 years.

Why this matters: The housing targets set by the BC government aim to tackle the housing affordability crisis in fast-growing regions of the province. The initiative seeks to ensure an adequate supply of affordable homes for residents in high-need communities like Kelowna and West Kelowna.

The Housing Supply Act, introduced in 2023, established housing targets for the first 10 priority municipalities. The province will now work with the 20 new communities to ensure they meet their targets, laying the foundation for more homes to be built quicker. The province will provide $51 million in grant-based funding to support municipalities in implementing changes and meeting housing targets, such as updating zoning bylaws, housing needs reports, and official community plans.

The B.C. government has identified Kelowna and West Kelowna as priority communities that need to meet housing targets over the next five years to accommodate growth. The specific housing targets for Kelowna and West Kelowna will be announced in the summer of 2024. In total, 20 communities across BC have been added to the housing target list, with Kelowna and West Kelowna being part of the second batch after an initial 10 communities were announced in spring 2023.

Kelowna has been recognized as a leader in creating housing over the past few years, and the minister sees this as an opportunity to provide additional infrastructure grants and funding to the city to advance its housing needs. However, the city has cautioned that external factors like interest rates, material and labor costs, and supply chain issues can still impact the ability to meet the targets, despite the city's efforts to advance housing projects.

The BC government has set housing targets for 20 communities, including Kelowna and West Kelowna, located in high-growth, high-need regions of the province. These communities will be required to build thousands of affordable homes with provincial funding and monitoring over the next five years. The government says the targets for the new communities on the housing target list will be much lower than the initial 10 communities, which had a larger housing gap to fill. The province has the ability to take a more active role in case the communities fail to meet their targets.

Key Takeaways

  • BC gov't sets housing targets for Kelowna, West Kelowna over 5 years
  • Targets aim to address housing affordability crisis in high-growth regions
  • Province to provide $51M in grants to support municipalities meet targets
  • Kelowna recognized as housing leader, but external factors may impact goals
  • 20 communities added to housing target list, with lower targets than initial 10