A: No, this is an initiative by a community non-profit society

A: Our plan is to secure additional land and build more homes. There is no timeline however.

A: Homeowners will be responsible for 100% of all costs associated with a project incurred by YeYe. Land and developer’s profit are not included in the cost calculation.

A: An example the light scheme would have light coloured cabinets in kitchen and bath, a lighter tile in bathrooms and kitchens and a lighter floor throughout. All paint would be a shade of white for both.

A: Allowing for customization would increase administrative costs and potentially unit construction costs and therefore homeowners will be limited to a choice of colour scheme.

A: The Homebuyer must be a Canadian citizen, permanent resident or non-permanent resident who is legally authorized to work in Canada.

• Buyers must qualify for a mortgage with their financial institution
• At least one person in the household has lived in Kelowna for at least a year immediately before the date you register the property and filed at least 2 income tax returns as a – B.C. resident in the last 6 taxation years immediately before the registration date
• Not exceeded a combined annual gross household income of $150,000

A: Homes must be occupied by purchasers as their primary residence and not rented out or offered as short-term rentals. Long-term rental of a spare bedroom to help the owner pay his/her mortgage helper will be permitted if the unit remains owner-occupied.

1. Prior to possession a formula of unit cost divided by market value will be used to measure the percentage of market home buyers are paying for. For example, if a two-bedroom unit cost is $288,700 and the market value is $400,000 the percentage split would be 72% for the home buyer and 28% for YeYe.
2. When a home is sold later by the original purchaser, the revenue will be divided as per the percentage split, as calculated at the time of original occupancy. For example, if a home sold for $500,000 several years later, the original home purchaser will keep 72% of the $500,000 sale price (minus normal selling costs).
3. When a home is sold, rented, transferred, or otherwise ceases to be owned by the original home purchaser, the home is deemed sold for purposes of YeYe collecting its percentage.
4. In the unlikely event that an original home purchaser is still in the home after 49 years from the date of purchase, the home will be deemed sold for purposes of YeYe collecting its estimated percentage.
5. Once the home resells for the first time and YeYe receives its percentage share YeYe is no longer a partner in the home and not entitled to any further considerations.

A: Yes after a minimum of ten years from the date of possession.

A: There will be a total of 20 townhouses each with their own private entrance, four accessible one bedroom homes on the ground floor, six one bedroom homes also on the ground floor, six two bedroom homes on two floors, and four three bedroom homes on two floors. As market and cost prices continue to fluctuate it is difficult to pinpoint exactly what home costs will be at this time. Your purchase price will not include a developers profit as YeYe is a not for profit developer and there is no land cost to our first time buyers. Based on these two major costs not being passed on to our first buyers we estimate the cost to buyers will be somewhere between 70-80% of the market price.

A: We expect construction to begin in 2025 and occupancy in 2026