Kelowna is a beautiful city in the Okanagan region of British Columbia, Canada. Known for its mild climate, vineyards, orchards, and stunning lake views, Kelowna is a popular destination for tourists and a sought-after location for real estate investment. If you're looking to invest in property in Kelowna, you may have come across the RU7 and MF1 zoning designations. In this blog post, we'll take a closer look at what these zoning designations mean and what you need to know before investing in a property with RU7 or MF1 zoning.
Generally, RU7 & MF1 zones in Kelowna allow between 2-4 units, depending on the width of the lot. The MF1 zone (previously RU7) is highly flexible regarding building types, configurations and tenure arrangements, making MF1 & RU7 Zoned properties in Kelowna, highly sought-after and very attractive to investors.
Examples of opportunities possible with an MF1 or RU7 Zoned property in Kelowna include: Additions of suites to the existing structures, Building a carriage home with laneway access, or redeveloping the property completely to maximize the footprint with a 4-plex or suited duplex.
RU7 zoning is a residential zoning designation that allows for low-density infill housing. The purpose of this zoning designation is to encourage the development of small-scale housing options that are compatible with existing neighborhoods. RU7 zoning is intended for properties that are located in established residential areas and are generally smaller than other residential zoning designations.
Properties with RU7 zoning are typically duplexes, triplexes, or fourplexes, although single-family homes are also allowed. The maximum density allowed under RU7 zoning is one dwelling unit per 370 square meters (4,000 square feet) of lot area, which means that the maximum number of units allowed on a property will depend on its size.
If you're considering investing in a property with RU7 zoning, it's important to keep in mind that there may be restrictions on the type and size of the infill housing that is allowed. You'll also need to ensure that the property meets all of the requirements for the RU7 zoning designation, including setbacks, parking requirements, and landscaping requirements.
MF1 zoning is a multi-family residential zoning designation that allows for a variety of housing types, including apartments, townhouses, and row houses. The purpose of this zoning designation is to provide for a range of housing options in areas that are close to amenities and services, such as shopping, transportation, and schools.
Properties with MF1 zoning have a higher density than those with RU7 zoning. The maximum density allowed under MF1 zoning is one dwelling unit per 185 square meters (2,000 square feet) of lot area. This means that a property with MF1 zoning could potentially accommodate a larger number of units than one with RU7 zoning.
If you're considering investing in a property with MF1 zoning, it's important to keep in mind that there may be restrictions on the height and size of buildings, as well as the number of units allowed on the property. You'll also need to ensure that the property meets all of the requirements for the MF1 zoning designation, including setbacks, parking requirements, and landscaping requirements.
Investing in property with RU7 or MF1 zoning in Kelowna can be a great opportunity to take advantage of the city's thriving real estate market. However, it's important to do your research and understand the requirements and restrictions that come with each zoning designation. Working with a real estate professional who is familiar with the Kelowna market and zoning regulations can help you find the right property and navigate the investment process with confidence. Contact Jared Franczak & Associates today to learn more about investing in RU7 and MF1 zoned properties in Kelowna.