On June 13th, Sleek Drafting & Design submitted an application for a fourplex at 770 Stockwell Avenue. A day later, another application emerged for a fourplex at 785 Richter Street. Both projects offer four-bedroom units with private parking solutions in the form of four-stall carports.
Unit Amenities and Design Differentiation
The projects showcase distinct design features, catering to potential residents' preferences. The Stockwell development promises a luxurious touch with private rooftop patios for each unit, perfect for outdoor entertaining or relaxation. In contrast, the Richter project prioritizes balcony access on the third floor, likely offering scenic views for residents.
Contextualizing the Trend
These applications align with recent bylaw changes implemented by the City of Kelowna in March 2024. The changes comply with provincial regulations that promote small-scale multi-unit housing (SSMUH). This initiative aims to increase housing density and diversify living options within established neighborhoods.
Impact on Kelowna's North End
The SSMUH regulations allow rezoning of thousands of lots across Kelowna, permitting the construction of up to four to six units per lot. This shift has the potential to significantly impact the housing market in the North End. With an anticipated increase in housing supply, particularly for smaller units suited for young professionals, families, or downsizers, market dynamics might experience a shift towards affordability and a wider range of housing options.
Beyond Fourplexes
The trend extends beyond these specific projects. Earlier in June, the city received applications for two townhouse developments. Interestingly, Sleek Drafting & Design, responsible for the Stockwell fourplex application, also submitted a proposal for a three-story townhouse at 784 Cadder Avenue.
Looking Ahead
The rise in infill housing applications signals a clear direction for Kelowna's North End. As these projects progress through the approval process, it will be interesting to see how they contribute to the overall development of the neighborhood and potentially influence future real estate trends in the area.
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Disclaimer: The information provided is for informational purposes only and should not be considered as investment advice.
