Affordable units on Clement

[dirtybiker]

Wow, can't wait for all those people to get situated and then close down, through
complaints, very near the only remaining truck route to the industry in the area.

[Even Steven]

Well, it's a good news for the area. It's seriously being redeveloped. This, the new police building, another project in the works for Richter and Clement. Before this, it was a crack central of Kelowna.

[60-YEARS-in-Ktown]

That was on the other side of the tracks from me..

[miss_sterious]

Why would CMHC subsidize it? Does that mean they basically won’t charge their usual arm and leg? This portion of it confuses me. Also, how will the morning commute along Clement be affected, and are the nearby schools at capacity? I feel skeptical and curious as to who is really benefiting here.

[Queen K]

The developers are benefitting.

Build cheap. Cuz.
58 units of supposedly "low rent" aka 10% cheaper than what exactly? Let's see $1200?

$1200 - 10% = $1080 x 58 units = $62,640/month x 12 = $7.5 mill plus change minus operating expenses. Which I realize can be considerable per unit if they get people who destroy things because they have no vested interest due to lack of ownership. And I will remind people that my parents rented for years and we never destroyed anything. What I'm saying is that this rental unit will go condo in a few years and be sold off per unit to the tune of market rates, $350 plus per unit depending on square footage.

And that is IF the units are set at that low rate. Which I'm going to doubt right now.

[Anonymous123]

https://www.castanet.net/edition/news-story-215056-1-.htm#215056, this is just an example of how clueless the over educated in charge of this are, these units will be rented at 10percent below market rates
how much does a 1 bedroom in a nice new building go for in kelowna these days no less than $1,100 maybe more ?
take off 10% that would make the rent $910 a month not including everything else, and the city calls this affordable housing these people kill me

1100 x .1 = 110

$1100 - $110 = $990

[MAPearce]

Yeah ....

I smell rats.

Shame on CoK Mayor and Councillors

[the truth]

https://www.castanet.net/edition/news-story-215056-1-.htm#215056, this is just an example of how clueless the over educated in charge of this are, these units will be rented at 10percent below market rates
how much does a 1 bedroom in a nice new building go for in kelowna these days no less than $1,100 maybe more ?
take off 10% that would make the rent $910 a month not including everything else, and the city calls this affordable housing these people kill me

1100 x .1 = 110

$1100 - $110 = $990

my bad ,

[MAPearce]

Well, it's a good news for the area. It's seriously being redeveloped. This, the new police building, another project in the works for Richter and Clement. Before this, it was a crack central of Kelowna.

Nope ... It HAS light industry AND had a fruit packing house AND has a winery/brewery AND residential use AND sports venues AND more ....

Give it up on the "run down , needs revitalization " crap ...

This is all about council being thrown some bait on a hook and them taking it under the veil of "goodness" for the people .

[Queen K]

BANG ON! ^^

And not every house down there is a "crack shack". A great many of them, like mine are totally reno'ed on the inside.

I hate that stereotype, small house, crack addicts. Sorry, not true.

[W105]

let's not forget the 10 yr rental cap on those said rents...that's pretty darn good considering how quickly rents have increased here..

58 units with 2,3 & 4 bedroom units with 72 parking spots (might make it a tad easier for the small business owners to find employees who can live downtown and walk to work..I know a few small business owners downtown who can't find any employees because there's nowhere half reasonable to rent downtown)

and it's still not good enough for some ???

also, let's stop assuming every renter is gonna "trash" the place...many don't..

AND, damn rights CMHC should be doing this...check out their yrly profits..they also increased them again for every new homeowner that had only 5% down this yr...CMHC is only here to protect the Banks (cause them poor old Banks could suffer if they give out high ratio loans and might need protection....pfffft )

[dirtybiker]

Nope ... It HAS light industry AND had a fruit packing house AND has a winery/brewery AND residential use AND sports venues AND more ....
Give it up on the "run down , needs revitalization " crap ...
This is all about council being thrown some bait on a hook and them taking it under the veil of "goodness" for the people .

And A major lumber mill, and concrete batch plants, and.. and.. and..
A Paint and Body Shop next door..

Someone did not think this through too well.

In the midst of a well established Industrial area.

The complaint department will be on over-time once these apartments are full.

[MAPearce]

BANG ON! ^^

And not every house down there is a "crack shack". A great many of them, like mine are totally reno'ed on the inside.

I hate that stereotype, small house, crack addicts. Sorry, not true.

I know right ...
Hodge , if you're listening and you voted in , favour of this , FOR SHAME for not seeing this as a ruse...

[60-YEARS-in-Ktown]

Nope ... It HAS light industry AND had a fruit packing house AND has a winery/brewery AND residential use AND sports venues AND more ....
Give it up on the "run down , needs revitalization " crap ...
This is all about council being thrown some bait on a hook and them taking it under the veil of "goodness" for the people .

And A major lumber mill, and concrete batch plants, and.. and.. and..
A Paint and Body Shop next door..

Someone did not think this through too well.

In the midst of a well established Industrial area.

The complaint department will be on over-time once these apartments are full.

The cop shop is the buffer between the two factions.
Kudos to finally bringing the road up to snuff, only one block left to do. But don't be surprised if the bike lanes are not swept come Canada Day..

[Even Steven]

Give it up on the "run down , needs revitalization " crap ...

Ok, let's see.

Brand new building OR six crack shacks.

What's better for the area???

Hmmmm, that's a toughie.