Builders Applaud Federal Funding to Get More Homes Built

October 25, 2023

KELOWNA, BC – The Canadian Home Builders’ Association – Central Okanagan (CHBA-CO) is applauding today’s announcement of $31.5 million dollar federal funding agreement with the City of Kelowna and the Canadian Mortgage Housing Corporation. The funding will allow the local residential construction industry to continue to address a local housing shortage despite challenging economic conditions that have delayed or paused new home construction.

Through these funds, Kelowna aims to create an additional 950 housing units over the next three years above and beyond initial targets set out in the Official Community Plan. Furthermore, the use of these funds to modernize housing applications and approvals will lay the groundwork for an additional 20,000 homes over the next decade. Again, this is in addition to the 1,830 homes averaged between 2018-2021.

“Kelowna is proud to be recognized…as one of Canadas fastest growing communities. With this growth comes the need for significantly more housing to ensure our current and future residents have a place within this community to call home” said Mayor Tom Dyas at this morning’s announcement.

In recent years, the city has faced mounting challenges in meeting the increasing demand for housing, resulting in a significant gap between housing supply and demand. According to available data, Kelowna has witnessed a surge in population growth, subsequently leading to a surge in housing needs.


Caption: CHBA-CO Past President Cassidy deVeer with Sean Fraser,  Minister of Housing, Infrastructure and Communities

By enabling a more efficient and streamlined construction process, this initiative will not only address the immediate housing challenges but also contribute to the overall prosperity and well-being of the community in the years to come.

Although the announcement will allow for the creation of more homes, caution is still urged by the residential construction community.

“Todays announcement is welcome, and showcases the leadership position Kelowna has taken to rise to the challenge of our housing crisis .” Said Krista Paine, President of CHBA-CO. “While I am confident these changes mark a significant step in the right direction, it is important to recognize that they are just one piece of the puzzle.  To continue to work towards overcoming the housing challenges, we must continue to address our labour shortages and encourage more individuals to pursue careers in the trades.”

Known as the Housing Accelerator Fund, the funds will be used to establish new housing partnerships and affordable housing delivery, leverage new technology to improve processing and data management, utilize city-owned land for affordable housing, and incentivize private sector housing development, among several other initiatives.

About the Canadian Home Builders’ Association Central Okanagan:

CHBA-CO is the voice of the residential construction industry in the Central Okanagan. Representing over 340 members, the CHBA-CO advocates on behalf and provides education and networking opportunities for builders, renovators, interior designers, and the suppliers and trade companies they employ. Locally, CHBA-CO members have created over 16,000 local jobs. One in five employees in British Columbia work in the home building industry. Membership includes home builders, renovators, land developers, interior designers, trade contractors, product and material manufacturers, building product suppliers, lending institutions, insurance providers, and service professionals. For more information visit