Downtown is where the City expects the most new housing in Kelowna. Here is the number, what it means for a buyer and how close is close enough.
New Condominium Developments in Kelowna3 min read
By the Serenity team. Published , checked .
Most useful for: Hospital and downtown workers, First-time buyers.
New condo developments in downtown Kelowna are marketed on walkability, and the City's plan backs the direction: the Downtown Urban Centre is projected to take 6,939 new homes by 2041, more than any other growth area.
With that much planned, downtown buyers will have a lot of buildings to compare. The questions that sort them are scale, distance and paperwork.
New condo developments in downtown Kelowna are the City's biggest growth story: the Official Community Plan projects 6,939 new homes in the Downtown Urban Centre by 2041, more than any other area. Buyers who want to be near downtown without living in it can look a few minutes out, such as Central City, a 4-minute drive away.
Each number is read from the sources listed at the end of this guide on October 16, 2026.
Downtown buildings tend to be larger, with more homes sharing amenities and, often, a more commercial street edge. The City's plan makes the same point from the other side: it projects 71% of Kelowna's growth to 2041 in the Urban Centres and the Core Area, and the largest single share in Downtown.
| Growth area | Type | New homes | Share of 45,000 |
|---|---|---|---|
| Downtown | Urban Centre | 6,939 | 15.4% |
| Midtown | Urban Centre | 3,154 | 7.0% |
| Core Central | Core Area | 3,141 | 7.0% |
| Core Glenmore | Core Area | 2,988 | 6.6% |
| Rutland | Urban Centre | 2,883 | 6.4% |
| Core Lakeshore | Core Area | 2,463 | 5.5% |
| Dilworth | Suburban | 2,453 | 5.5% |
| Core Rutland | Core Area | 2,259 | 5.0% |
| Capri Landmark | Urban Centre | 2,160 | 4.8% |
| Core Hospital | Core Area | 2,131 | 4.7% |
| Pandosy | Urban Centre | 1,969 | 4.4% |
| North End | Core Area | 1,844 | 4.1% |
| Lower Mission | Suburban | 291 | 0.6% |
The City counts all housing types, and projects 65% of new homes citywide as apartments. These are planning projections, not forecasts of what will be built or sold, and the City says actual permits will fluctuate with local real estate and land development cycles. Areas not shown, such as the rest of the suburban districts, add to the citywide total of 45,000.
Living downtown is one answer to a short commute. Another is living a few minutes out. From Serenity it is a 4-minute drive or a 22-minute walk to Water Street and Bernard Avenue, a 4-minute walk to groceries and a 5-minute drive to Okanagan Lake. The trade-off is that you are not in the core, so decide how much of your routine needs to be on foot.
The 6,939 homes projected Downtown are 15.4% of the 45,000 the City says Kelowna needs by 2041, and about 24 times the Lower Mission projection. Midtown, the next largest Urban Centre in the chart, is projected at 3,154. If you shop downtown, you are shopping where the City expects the most supply.
| Growth area | New homes | Share of 45,000 | Rank of 13 |
|---|---|---|---|
| Downtown (Urban Centre) | 6,939 | 15.4% | 1st |
| Midtown (Urban Centre) | 3,154 | 7.0% | 2nd |
| Rutland (Urban Centre) | 2,883 | 6.4% | 5th |
| Capri Landmark (Urban Centre) | 2,160 | 4.8% | 9th |
| Pandosy (Urban Centre) | 1,969 | 4.4% | 11th |
For a downtown building, the written plans say more than the marketing does about how people get around. Serenity's development permit report, dated June 22, 2026, lists 27 residential and 4 visitor parking stalls, 66 long-term and 6 short-term bicycle spaces, and 9 transit stops within 300 metres.
Ask every developer you compare for the same three numbers, and divide stalls and bike spaces by the number of homes. Buildings sell with different assumptions about how many cars their residents own.
More buildings means more to compare, and more chances to see one finished before you buy. CMHC counted 497 completed but unabsorbed apartments in the Kelowna area in August 2026, so some finished buildings are still selling or renting. It also means the usual checks matter more: how many homes share each amenity, whether the building is condo or rental, who the developer is and what the disclosure statement says about completion.
The Central Okanagan board reported 774 apartments listed and a 10.7% sales-to-listings ratio at the end of September 2026. These cover the whole board area, not Downtown alone.
CMHC counted 3,483 apartments under construction in the Kelowna area in August 2026, with 1,077 apartment starts from January to August. Between 2021 and 2024, 68% of the building permits the City issued were for apartments, and the City reports over 2,900 rental homes completed. Downtown buyers will see a mix of condo and rental projects.
The comparison questions do not change with the postal code.
Ask the same questions of every building.
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The City's Official Community Plan projects 6,939 new homes in the Downtown Urban Centre by 2041. CMHC counted 3,483 apartments under construction across the Kelowna area in August 2026, though it does not break that count down by neighbourhood.
The City designates Downtown as an Urban Centre, the kind of amenity-rich, walkable area its plan wants more housing in. Time the routes you would use from a specific building. For comparison, Serenity is a 22-minute walk from Water Street and Bernard Avenue.
Yes. A smaller building a few minutes out can put downtown within a short drive or a longer walk. Serenity is 33 homes in Central City, a 4-minute drive from downtown. Compare scale as well as distance.
Both are being built. The City reports over 2,900 rental homes completed from 2021 to 2024, and 68% of building permits in that period were for apartments. Ask whether a building is strata-titled condos or purpose-built rental before comparing prices.
Divide the number of homes in the building by the number of amenity spaces, such as the gym, the rooftop and the parking stalls. Serenity has 33 homes sharing an indoor gym and yoga studio and a rooftop with a sauna, cold plunge and outdoor kitchen, all shown in concept renderings.
General information read from these sources on the date above, not legal, tax or financial advice.
Related Guides
Central City sits just east of downtown Kelowna. Here is what buying a condo there involves, measured from one address and set against the City's growth plan.
Read the guideCapri-Landmark brings offices, retail and newer condo buildings into one district. Here is the City's projection and the questions a mixed-use area raises.
Read the guidePandosy is one of the City's five Urban Centres, so presale condos there are part of a planned shift. Here is the City's number, and the questions that apply in any BC presale.
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