Tower called affordable

Don Plant Kelowna Courier: 2008-10-22

A 26-storey tower on Bernard Avenue would offer affordable homes to local residents and help revitalize the downtown, the city‘s Advisory Planning Commission heard Tuesday. Aquilini Developments, which owns the Vancouver Canucks, pitched the mixed-use high-rise as a home for people who can‘t afford most of the new condo projects now under construction. “We felt the current market catered to the high-end, resort environment. There was nothing catering to the people of Kelowna,” said Aquilini‘s Barry Savage. The proposed building, which would stand nearly twice the allowable height for its zoning, would occupy the lot between the Lululemon store and Scotiabank on the north side of Bernard near Pandosy Street. The bottom five floors would be set aside for commercial space and parking. The owners struck a deal with Ron Bagan, who owns the Lululemon building. He agreed to a covenant that would give him one more storey on his building in exchange for transferring the possible density of his lot to Aquilini.

Still, commissioners were concerned by the number of variances the developer wants. The C7 zoning permits a maximum of 14 storeys. Aqulini wants a 761-square-metre footprint – 85 square metres beyond the maximum. And the angle of its upper storeys is more vertical than the tapered structure current zoning allows. “This is not a simple request for a height variance,” said John Zeger, an opponent of the project. “It‘s a request for rezoning. It must be denied.”

Most speakers from the gallery supported the project. The development would be outside the comprehensive development zone, where a series of high-rises are proposed near the lakeshore. The building could kick-start similar projects in the area, said Barry Freeman, who works in commercial real estate. “This is exactly the kind of project we want to encourage for downtown,” he said. About half the 207 residential units would be sold for under $300,000 and nearly all would be under $400,000, the commission heard. Aquilini also plans to contribute $500,000 to public amenities in the proposed CD zone. The company has received 187 inquiries from interested buyers. Nearly seven in 10 of them are over age 60, said marketer John Ryan. The commission was still debating whether to recommend the project to council at press deadline.