Kelowna developer proposing more than 200 rental units in Comox

Highstreet Ventures has presented Comox council with a four-building development at 695 Aspen Road.

A Kelowna-based development company is proposing a new complex mixing both rentals and condo units in Comox.

Highstreet Ventures said they have presented Comox council with a four-building development at 695 Aspen Rd., which features 208 rental units and with 24 condo units, along with mixed-use commercial on the ground floor.

“We recognize we need market rentals in Comox,” explained Christina Wilson, vice-president of development and sales for the company.

“We dialed into Comox because we have a piece of land that is large enough, and we realized one area in the Town’s OCP (official community plan) is that they wanted to densify.”

With buildings primarily in western Canada, Highstreet has built the Riverwalk Centre and Riverstone condo buildings in Courtenay.

The application has been submitted to council for rezoning and a development permit. If the process proceeds, Wilson explained she would like to see construction begin in the spring, with a build-out period of around 12 months for the first building.

She noted rentals could ready for occupancy by fall 2021.

Wilson explained one of the goals of their company is to have 1,000 net-zero homes by 2024, and added: “we are well on our way.”

“We already have a better building envelope and have solar panels installed. It’s really important for us to be energy efficient – we aim for ‘smart real estate.’ ”

In terms of parking, Wilson said there will more parking than the Town’s bylaw requires, along with chargers for electric vehicles.

She estimates rents will be at market rate and noted a one-bedroom could be around $1,300, with a two-bedroom around $1,500.

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