Apply for City of Kelowna’s Rental Housing GrantsPosted
The City of Kelowna is offering developers of purpose-built rental housing the opportunity to obtain grant funding as a measure to offset Development Cost Charges. Approved grants are applied against the Development Cost Charges at time of Building Permit.
The City of Kelowna’s 2018 Rental Housing Grants program is now accepting applications. Be sure to complete and submit yours before the October 1st deadline. For more information and to download your application, visit us kelowna.ca > Developer incentives.
Increase in funding
In response to the immediate need for rental housing, the City temporarily increased funding to $420,000 for the 2017 and 2018 Rental Housing Grants intake.
Focus: family-friendly units
The City is looking to encourage the development of family-friendly rental units (i.e. with three bedrooms). This direction is necessary due to very low vacancy rate for three-bedroom units and increasing costs of single-detached dwellings in Kelowna. Although there are a considerable number of rental housing projects underway, many are comprised of one-and two-bedroom units.
Funding distribution changes
The funding distribution is aligned with different unit types (one-, two- and three-bedroom units) to ensure that housing grants more accurately reflect the costs of development, while providing an incentive for the development of family-friendly rental units. The maximum funding amount will be $8,000 for three-bedroom units, $4,000 for two-bedroom units, and $2,000 for one-bedroom units. The grants will continue to be provided in the form of Development Cost Charge credits.
Visit the Developer incentives webpage, and complete and submit the Rental Housing Grants application form before Oct. 1.