A new rental project in Glenmore was given the green light to begin building.
Kelowna-based Traine Construction and Development, along with Toronto-based Harbour Equity, announced Wednesday morning that they will soon commence developing their new rental project, Trio.
The project involves constructing three five-storey buildings, for a total of 175 units.
Trio’s units will come in studio, one- and two-bedroom setups, and will offer “attainable housing solutions,” according to Traine vice president Corey Makus.
“We are proud to add this new apartment community to our portfolio,” said Makus. “Having a large investment into our city demonstrates the confidence that Kelowna’s growth represents to external markets.”
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According to Statistics Canada, Kelowna is the sixth fastest growing metropolitan area in the country, so area residents are likely to see similar projects in years to come.
The city says due to affordability challenges and decreasing household sizes, most new units being built will be multi-family units.
In its official community plan, the city also says it will push harder for future rental projects to accommodate Kelowna’s diversifying housing needs.
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