Condominiums or condos, are typically housing that is part of a much larger development, often four or more stories high. In Kelowna condominiums are very popular as larger complexes allowed for high density zoning to be optimized in much of the city. New condo developments are requesting 35 stories high or more with the New Westcorp Downtown Hotel and residencies leading the way.
Condos are privately owned by the homeowner, while all other connecting areas of the complex are communally owned by all condo residents and managed by the Strata Council. There is a boom in Condominium development currently with many large projects underway in Glenmore, Lower Mission, Kelowna downtown, the Cultural District, Rutland and South Kelowna.
The city of Kelowna is encouraging these types of affordable housing options as it allows for 1, 2 and 3 bedroom condos to be built at an affordable price point for first time buyers. There is also a higher sense of security as many new condos are in highrise developments which can be perfect for the retired couple who travel for much of the year.
The majority of Kelowna Condos are wood frame construction up to four stories. We are starting to see condo towers with concrete construction that typically range from 20 to 30 stories.