A developer is proposing what they are calling an Osoyoos first by offering that ‘missing middle housing stock’ to locals struggling with ever-out-of-reach rental rates.
A special public meeting is being held Tuesday, May 31 at 2 p.m. at the Town of Osoyoos council chambers to let residents have their say on a new development proposed as a first of its kind for the area, offering that ‘missing middle housing stock’ with some units rented below market. The developer is also proposing to offer this to Osoyoos residents first.
The purpose of this meeting is to seek public input on an OCP amendment and zoning amendment which received first and second readings at the May 10 town meeting.
If approved, the project would consist of a mix of five townhomes and a 17-unit apartment-style condominium building at 7808 Spartan Drive.
The applicant, Sterling Pacific Developments, is proposing to rent a minimum of 12 of the apartments for a minimum of 20 years with four of those units being rented at “below market” rental rates for a minimum of five years. All rentals will be secured by way of restrictive covenants registered on the property’s title.
“Currently, the site is completely underutilized and serves only as a gravel parking lot in the summer months. Alternatively, Sterling Pacific Developments is seeking to create a dynamic and much-needed development on the currently empty lot in order to add housing options that Osoyoos is severely lacking. The units will be offered to Osoyoos residents first,” said Jamie Harper of Sterling Pacific Holdings.
”Small communities, like Osoyoos, rely on the many different families and individuals that make up the community. However, as housing prices continue to rise and rentals become harder to come by, it becomes almost impossible for individuals and families to remain where they grew up or hoped to raise a family. Osoyoos needs more housing options and Sterling pacific is dedicated to assisting those hoping to downsize or families and single individuals looking for a forever home.”
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