The City of Kelowna will need to build 8,774 housing units over the next five years under new provincial housing rules.
Housing Minister Ravi Kahlon provided a six-month progress update from the first 10 priority communities selected for housing targets on June 26.
The update shows shows more than 4,000 net new homes have been built so far, after targets were set in September 2023. Kelowna was named to the second set of priority communities in April.
Ryan Smith, Divisional Director, Planning, Climate Action and Development Services, at the city said staff are confident Kelowna's numbers will be met.
"That works out to 1,755 units per year. We expect to be able to meet or exceed that target for the next couple of years based on housing currently under construction. We have met and exceeded that number in past years. The city's recent housing needs assessment projects needing between 1800-2600 new homes a year."
Meeting provincial targets during the latter part of the five-year time frame may be challenging.
"Our permitting processes are capable of permitting that type of volume," Smith said. "The current economic conditions are discouraging new permitting for projects that would be realized in years 3-5 of the period being measured."
Smith noted that the city continues to maintain and evolve its permitting processes to be among the most efficient in B.C. and Canada.
The five-year build clock is already ticking, and Smith added a six-month interim report will need to be made in December and a full report will be due each July during the five-year time frame.
While communities such as Victoria and Port Moody have shown significant progress in delivering homes, others such as Delta, Oak Bay and West Vancouver are not progressing as expected, according to the report. Compliance measures may be taken if satisfactory progress is not made.
Approximately 55,478 homes are expected to be delivered by the second set of communities, a 41 per cent increase in overall housing than what was projected based on historical trends.
