City Of Kelowna Tender

The City Is Seeking A Development Partner To Undertake The Funding, Design, Construction And Management Responsibilities Of The Lands Based Around The Following Core Objectives: • Affordability: At Least 20% Of The Units In Each Project Must Be Rented At 20% Below The Market Rate, • Financial Sustainability: To Ensure The Long-term Viability Of The Projects, Up To 80% Of The Units Can Be Rented At Full Market Rate, Generating Revenue For The Developers And Operators. • Unit Mix: The Projects Must Offer A Variety Of Home Sizes, Ranging From Studio Apartments To Three-bedroom Units, To Accommodate The Diverse Needs Of Middle-income Residents; These Criteria Are Designed To Balance The Goals Of Affordability, Sustainability, And Diversity In The Mihp Program. By Following These Criteria, The Program Will Create More Housing Options For Middle-income Households Who Are Often Priced Out Of The Market Or Unable To Find Suitable Homes.