A report commissioned last year to have a land economist weigh in on how the city might spur the development of more affordable housing, returns to council Monday. Coriolis Consulting Corporation was hired to assess recommendations made by the city’s Affordable and Special Needs Task Force on the concept of density bonusing. The recommendations suggest it would be better to let developers contribute money toward an affordable housing fund, rather than contribute actual housing units in exchange for an increase in density under city zoning regulations as is current practice. The report concludes Kelowna has plenty of room to expand on the number of homes allowed for under its current zoning, suggesting the city’s density bonuses also aren’t dense enough. The report recommends reviewing the zoning planned for in the Official Community Plan to see if there isn’t an area in which the city could offer significant up-zoning, or a major density increase, in exchange for a hefty amount of new affordable housing funds, park space, or other so-called public amenities from the developer. Should the city move forward with a cash-in-lieu approach, as suggested, councillors must decide how to set a value for the additional density, how much of the additional density’s sales value the developer should receive versus the city and when payment would be made.
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