Kelowna, July 10, 2023 - Troika Management Corp(Troika) is thrilled to announce that its second proposed Rutland housing development project has successfully received unanimous approval at today's Kelowna City Council meeting. This significant milestone marks the first and only appearance of the Asher Rd. Housing Development in front of the city council for a Development Permit. The project, located at 500 Asher Rd., is fully compliant with the Official Community Plan (OCP) and does not require any variances.
The Asher Rd. Housing Development, meticulously planned by Troika, aims to address the increasing demand for high-quality housing in Kelowna while contributing to the city's sustainable growth. With a commitment to creating a vibrant community that fosters a sense of belonging and enhances the overall living experience, Troika is dedicated to providing residents with a place they can proudly call home.
"We are proud to take on the challenge of addressing the growing demand for quality housing in Kelowna, and we are grateful for the city council's unanimous support," says Renee Merrifield, Co-CEO of Troika Management Corp. " By developing the Asher Rd. project, we are not only providing homes, but also creating a sense of pride and belonging for residents. It is an honor to contribute to the solution and make a positive impact on the community."
The Asher Rd. Housing Development will consist of a five-story building featuring 127 residential units. Additionally, the development will include a sixth-floor rooftop amenity space, offering residents a unique and enjoyable communal area. The project design adheres to the guidelines set by the Official Community Plan, ensuring a seamless integration within the surrounding neighborhood.
Troika's commitment to community engagement is further reflected in the project's amenity spaces, which will include multi-use green spaces, an outdoor dining and BBQ area, a landscaped communal patio, and more. The development's strategic location will provide convenient access to public transportation, promoting sustainable commuting options for residents.
Construction for the Asher Rd. Housing Development is scheduled to commence in the third quarter of 2023. Throughout the development process, Troika is committed to collaborating with local contractors, suppliers, and tradespeople to maximize economic benefits for the Kelowna community. By prioritizing local talent and resources, the company aims to create employment opportunities and contribute to the growth of the local economy.
With the unanimous approval from the city council, Troika is excited to move forward with the implementation of the Asher Rd. Housing Development. The company has already initiated the detailed planning phase and is committed to upholding the highest standards of construction, sustainability, and community engagement.
Troika Management Corporation extends its sincere gratitude to the Kelowna City Council for their thorough review and unwavering support of the Asher Rd. Housing Development. The company looks forward to partnering with the city to bring their shared vision of a vibrant and inclusive community to life.