Are Smaller Units the Answer to Creating Affordable Housing in Kelowna?

If you’ve ever looked at purchasing housing in Kelowna, you’d know that finding something affordable is a rarity. Real estate prices have soared in the Okanagan over the last few months. With the average single-family home price sitting at $1 million-plus, homeownership feels impossible for most. However, developers seem to be working with a new type of housing in Kelowna. The aim of these units will be to create affordable properties for those in their 20s and 30s. For more information about this new project, follow along below!

Mirco Housing in Kelowna.

A new housing project by the name of Five Crossings Smart Suites will be home to 207 new affordable housing units in the Landmark area. Moreover, the plot of land will hold six houses that are split into 207 micro-units. The building will offer studio, one-bedroom, and two-bedroom suites. Their studio-sized suite will be a shocking 313 sq ft! However, the developers have added a variety of amenities to ensure that residents enjoy living in such a small space. 

In fact, adding amenities to condo buildings has become increasingly popular for developers looking to woo potential buyers. Akin to the workplace perk revolution that we saw take hold in the early ’00s, many developers see amenities as the holy grail for drawing in buyers.  The newest micro-development in Kelowna will feature a gym, yoga pavilion, barbeque, golf simulator, and a covered atrium. Additionally, residents can play bocce and ping-pong and use the co-working space within the buildings. All of these features are designed to entice younger, first-time buyers into the real estate market. And that’s not all, the developer also promises to equip units with smart technology. For instance, facial recognition and app-controlled features that can be accessed from your smartphone. 

The aim of this project is to create affordable housing in Kelowna and create more sustainable housing. Furthermore, these smart properties will combat sprawl and could potentially help out the environment.

For more information on condos in Kelowna with out-of-this-world amenities, contact us today. We’d be happy to help you secure a home in your price range in Kelowna. Check out our social media for the latest updates and more. Also, stay tuned to our blog for monthly real estate news and content. We look forward to working with you soon!