Although 2022 was a strong year, building and development applications to Kelowna city hall slowed from record highs as the year progressed.
A staff report to council shows 2,262 residential building permits were issued last year, compared to 2,841 in 2021.
The city topped $1 billion in gross building permit value for the first time in 2021.
Total building permit value for the last three months of 2022 was $278,678,102. As well, 2022 remained a strong year for total numbers of residential building permits, the fourth highest in the previous 10 years.
There were approximately 700 planning applications submitted last year, compared to more than 800 in 2021.
“Given the slowing pace of application volumes, the city can expect to see the growth (in housing) slow to a level closer to the 10-year average in 2023,” the report states.
The type and location of housing projects under construction remain generally consistent with Official Community Plan (OCP) goals with the bulk of new residential housing density in the city’s core/urban areas in a multifamily format.
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