RU7 Infill Housing Zoning – Kelowna
There are over 800 RU7 parcels in Kelowna which allow up to 4 units based on size and site dimensions. The RU7 zoning came forward as part of a collaborative approach from builders, design professionals and developers as a way to increase density in central Okanagan neighbourhoods.
The options for RU7 lots include new 2-4-unit developments, typically the form of a stratified duplex, triplex or fourplex. Alternatively, homeowners can add coach houses to the rear of their current residence.
The most profitable option to build 4 units on a lot with an old house that has little contributory value to the property.
If looking to purchase an RU7 lot or re-develop an existing lot, some Items to consider are:
- the age and quality of the current dwelling
- building costs and development costs charges
- building permit fees.
Adlaw Appraisals has experience in valuing these projects for mortgage financing purposes. It is important that these projects are valued by a firm that understands the Okanagan real estate market as well as the niche elements required to complete a development appraisal that values the current land value and the value AS IF complete. A commercial appraiser is required for these assignments, so make sure you contact an appraiser that has the AACI, P. App designation.
To read more about RU7 see Kelowna RU7 Factsheet
To see the RU7 zoning Bylaw see Urban Residential Zoning Bylaw
Sincerely,
Adam Lawrenson, AACI, P. App
Owner