Tom Dyas - Real estate sous chef - Unemployment ticks up - 9.3%

High unemployment continues in Kelowna, with the rate for July pegged at 9.3%, the highest in any metro area in Canada for the 3rd month in a row. Rental vacancy rates ticked higher to 7%. There is no case for 200 more wood frame shitboxes on the taxpayer dime.

Sous chef Tom Dyas was sad to find BC Housing was scrapping plans for a 20-storey affordable housing project on Bertram Street in downtown Kelowna. He says he will apply his genius and will figure out something new and improved for the site. The government agency involved said the combination of escalating construction costs and sharply lower rents due to the city’s high rental vacancy rate meant the project wasn't viable. Pish Posh says Tom Dyas. The 176-unit development, which would have included 22 accessible units, a daycare and outdoor playground, would have offered rents about 30% below market rates.

Tom Dyas said 6 months ago Kelowna is in 'uncharted territory' as the rental vacancy rate reached 6.9%, the highest in Canada. The REASON this project for low income was shelved was directly because Dyas and his Khalistani have saturated the housing market in Kelowna with shit cheap 1 bd wood frame rental condos for TWF. Supply of shoeboxes is 'good' for the next decade+ in Kelowna.

Kelowna under Dyas is in economic freefall.

285 Dougall Road is a new rental build by Khalistani backed Troika Developments. Completed 10 months ago, it is still partially empty. Incentives now include free parking and 2 months free rent. At least 25 brand new condos of 83 are available after 10 months.

This begs the question why a housing partnership between the City of Kelowna and Troika Developments to build MORE terrible cheap quality, unrentable tiny wood frame shitbox condos is proceeding. Troika applied for development permits for two city owned sites in Rutland and Glenmore.

The city provides the land while Troika builds and manages the buildings. Projects are 129 wood frame units at Dougall Road North in Rutland, and 71 units on Glenmore Road. The majority are studio and one bedroom. The 'below-market' rental prices will be as follows: Studio - $1,250 One bedroom - $1,660 Two Bedroom - $2,040 Three bedroom - $2,370 'Eligible renters' will need a combined household income between $80k and $120k to pay no more than 30% of their income.

Once development permits are approved, Troika will seek building permits and begin construction. According to CMHC, 1,300 new rental units were added to the rental pool in Kelowna in 2025. Troika's cheap shitboxes aren't needed at their high rents.

Troika's financial backer are the Khalistani behind Canco Petroleum, former gas jockey Parmjeet Singh Sehgal and the Nijjars, brothers to slain KTF terrorist Hardeep Nijjar.