Investors looking for opportunities outside the relatively more expensive and politically challenging Metro Vancouver are being drawn to Kelowna's growing economy. Factors such as Community Amenity Contributions (CACs), lengthy permitting processes, restrictions around view cones and objections from residents in the neighbourhood that currently prevail in Metro Vancouver are almost non-existent in Kelowna. This leads to opportunities for both local and outside developers to take advantage of a relatively easier development process.
- With the goal of maintaining downtown as the primary town centre for Kelowna, City staff and council have been more willing to approve height variances in recent years, especially when they are satisfied with the overall impact of what is being designed.
- Since June 2017, City council has approved five height variances in the City Centre (Downtown), resulting in a total of 16 combined storeys of additional height to the downtown skyline.
- With community opposition to height expected to remain minimal, City staff and council are likely to continue supporting high density development and as such, should continue to support (reasonable) height variances, particularly in the City Centre.