The City’s Rental Housing Grants Program, which offers up to $8,000 in Development Cost Charge (DCC) credits for eligible projects, is now accepting applications for 2021.
“The City offers incentives for housing in strategic ways to ensure that the type of housing and the location of new housing achieves our long-term and overall community objectives,” said Ross Soward, Planner Specialist. “The grants program encourages the supply of a more inclusive range of housing options in Kelowna.”
In response to the need for affordable rental options and as identified in the Healthy Housing Strategy, the grants program is one of two developer incentives which aim to increase the supply of rental housing in our community and encourage new investment.
To be eligible for rental housing grant funding, projects must be affordable rental buildings with five or more units, must be secured by a housing agreement with the City or BC Housing, and must be in either the Core Area or within select Village Centres.
“Finding affordable homes in Kelowna can be a challenge and the Healthy Housing Strategy seeks to promote and protect rental housing by building the right supply and leveraging partnerships,” said Soward.
The deadline to apply for a Rental Housing Grant is Oct. 31, 2020. For more information visit the City of Kelowna website.