Troika Proposes Third Purpose-Built Rental Initiative for 2023

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On August 14th, Troika Management Corp. will present its third purpose-built rental initiative to Kelowna's City Council. The project, strategically located near downtown and along a transit-supported corridor, proposes transforming five single-family lots into a six-story apartment block with 130 units, ranging from studio apartments to townhouses.

Kelowna, BC – August 9, 2023 – Troika Management Corp.’s latest purpose-built rental project is set to go in front of City Council for Initial Consideration on August 14th. This endeavour embodies Troika's commitment to progressive, sustainable community building while addressing Kelowna’s acute need for rental housing.

"Our latest rental project epitomizes Troika's dedication to forward-thinking, sustainable community development," said Troika’s Co-CEO Renee Merrifield. "We remain deeply committed to addressing Kelowna's urgent rental housing needs. Our goal is to transform these five single-family lots into a vibrant community hub that aligns with the City's2040 plan. The project symbolizes our commitment to providing a range of affordable housing options while enhancing the neighbourhood's appeal and preserving its unique character."

The development site, located at 1459 Gordon Dr., 1467 Gordon Dr., 1104 & 1110 Lawson Ave., 1120 & 1130 Lawson Ave, and 1488 Aspen Crt., is currently zoned as RU4. Troika seeks a rezoning to Multi-Family –Rental Designation (MF3r), in line with the City of Kelowna's 2040 Official Community Plan.

The proposed project exemplifies Troika's forward-thinking approach by transforming five single-family lots into a ground-oriented rental apartment block. Consisting of a range of unit types from studio apartments to walk-out townhouse units, this six-story wood frame rental building provides130 new homes to Kelowna residents.

Leveraging the project's strategic location, near downtown and along the transit-supported corridor, Gordon Dr., Troika aims to meet the City's increasing demand for rental housing. The development also benefits from adjacent mixed-use retail options and serves to soften the transition between the existing high-density project south of the development and the surrounding low-density residential areas.

Troika Management Corp. is pleased to share that this proposal, shaped through collaborative design with the City of Kelowna, is variance-free. The design balances increased density with the goal of respecting and enhancing the surrounding neighbourhood. To ensure this, the project includes a generous rooftop amenity space, indoor amenity areas, multi-use green spaces, and pedestrian-focused exterior landscape areas, limiting the building height and facilitating a smooth transition from high to low-density properties.

The City Council's consideration on August 14th will mark the beginning of an exciting chapter in Kelowna's growth. Troika looks forward to the opportunity to continue creating vibrant, sustainable communities for its residents.

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