You've probably seen the row of houses with sold signs across from the new RCMP building. Vernon-based Anagram Properties purchased the real estate and submitted a proposal to the city late last year to build a six-storey, 58-unit development that is currently under review.
Anagram Properties in collaboration with MQN Architects, says the Canadian Mortgage and Housing Corporation’s Rental Construction Financing program will subsidize the cost of the apartments, in an effort to bring affordable housing closer to downtown and help with Kelowna's overall lack of rental housing. CMHC’s RCF program will allow the companies to offer “market-quality rental housing” at 10 per cent below market rates, for ten years.
The proposed project includes the rezoning and development of properties at 573 – 603 Clement Ave into a multi-family development that provides 58 units consisting of two one-bedroom units, 43 two-bedroom units, seven three-bedroom units, and six four-bedroom units. 12,230sf of private outdoor space will be offered to residents of the building.
In the proposal Anagram Properties states, "Clement Avenue is poised to change from a low-density corridor straddling between single family residential housing and industrial lands to a vibrant northern gateway to the city centre. This proposed project in conjunction with other developments planned within a two-block radius are set to redefine this area with increased density and livability."
In keeping with Anagram's strategy to provide "smart, sustainable and attainable properties", the project includes four car share parking stalls available to building residents as well as residents of the surrounding neighbourhood. They're also considering 184 kilowatts of solar power to source electric vehicle charging and general power to the apartments. Even better, ten shared bicycles are available to all building tenants as well as a bicycle maintenance space.
While the area is zoned for heights up to 12 storeys, Anagram is limiting its proposal to six in an effort to stay consistent with other similar-sized proposals in the area. The city plans to vote on the development early this year.
This proposal (along with Vancouver's PC Urban Properties proposal to rezone a trio of properties near 726 Clement across the street – more on that later) will be one to follow as human scale and urban densification plans promise to enrich this currently industrial/transportation corridor. Most of all, it looks like a smart way to help put a dent in our rental housing crisis.
You can view Anagram Properties' Proposal on the city website.