West Kelowna will soon have a new rental property that will be built with a climate change conscious.
Approximately 50 people were in attendance at 2200 Majoros Road, Thursday, to celebrate the official launch of a new net-zero energy rental building planned to be constructed in the city.
A zero-carbon building doesn’t release any carbon dioxide pollutants into the atmosphere when it’s operating.
The four-storey, 184-unit rental apartment is anticipated to be completed in 2021 and will be built by Kelowna-based developer High Street. The company beat out 51 other applicants to build the project through a CleanBC Better Buildings Competition.
The company will now have up to $390,00 in financial incentives to build 304 solar panels, triple pane windows and LED lighting to help make the apartment 100 per cent electric and zero-carbon when it’s finished.
Highstreet Ventures President Scott Butler said the development is part of a bigger company initiative to help fight climate change at a local level.
“Two years ago, we set an ambitious goal to own and operate 1000 net-zero apartment buildings by 2024,” Butler explained.
“Our vision is to be known for leading the real estate industry to an affordable, zero-carbon, net-positive future.”
The company is known for building eco-friendly housing in the area. They’ve already built a sustainable 240-unit apartment building and a 48-unit condo building adjacent to the new construction site.
Highstreet Ventures sales development vice president Christina Wilson said some of the costs associated with the project will be offset by the design of the building.
“Obviously there are extra costs associated with the project, but with the offset of operating costs coming down from the building, we will be able to spend the extra money that we need to make to make the building net-zero,” she said.
The company stated the two and three-bedroom units will be rented at market-level cost when they’re done being constructed.
West Kelowna Mayor Gord Milsom and three other West Kelowna city councillors were in attendance.
For more information on the company’s developments, you can visit their website.