SAVOY on Clement is a boutique condo and townhome development located at 647 Clement Avenue in Kelowna’s fast-growing North End.
For buyers who want a walkable downtown lifestyle without being directly in one of Kelowna’s larger high-rise towers, SAVOY offers a more intimate urban option close to restaurants, breweries, Prospera Place, the future UBCO Downtown campus, Okanagan Lake, and Kelowna’s cultural district.
This development appeals to buyers looking for modern design, downtown convenience, and long-term value in one of Kelowna’s most active growth areas.
SAVOY is not designed to be a massive resort-style tower. Its strength is more focused: modern floorplans, walkability, boutique scale, and access to one of Kelowna’s most exciting urban neighbourhoods.
Residents are close to downtown, the lake, local breweries, restaurants, cafes, entertainment, and future university growth.
Some of the lifestyle features connected to SAVOY include:
- Outdoor laneway terrace
- Firepit and lounge-style outdoor amenity space
- Dog run and dog wash / paw wash station
- Bike storage
- Storage lockers
- Underground parking
- Visitor parking
- Walkable access to downtown Kelowna
- Close proximity to restaurants, breweries, shops, and Okanagan Lake
For buyers who want downtown energy but prefer a smaller building feel, SAVOY fits the boutique urban lifestyle very well.
SAVOY should be viewed first as a lifestyle property and long-term rental investment opportunity.
The downtown Kelowna location gives it strong long-term rental appeal. Demand may come from young professionals, students, downsizers, medical and tech workers, and renters who want to live close to downtown without needing to drive everywhere.
Key long-term rental drivers include:
- Downtown Kelowna location
- Future UBCO Downtown campus nearby
- Walkability to restaurants, cafes, breweries, and entertainment
- Smaller and more efficient floorplans
- Newer construction
- Pet-friendly building features
- Access to transit and bike routes
- Close proximity to Okanagan Lake and the cultural district
Short-Term Rental Considerations
Buyers should be careful not to assume SAVOY can be used as a full-time Airbnb or short-term rental property.
As of Kelowna’s current short-term rental framework, SAVOY does not appear to be on the City’s approved list of properties where principal-use short-term rentals are permitted.
That means the safer investment thesis is long-term rental demand, not full-time Airbnb income.
Before buying, investors should confirm:
- Current City of Kelowna short-term rental rules
- Provincial short-term rental requirements
- Strata bylaws
- Business licence eligibility
- Whether the unit must be your principal residence
- Any future changes to the City’s approved STR subzone list
This is an important distinction. A building can be a strong investment without being a full-time Airbnb building.
SAVOY may be a strong fit for:
- Buyers wanting newer construction near downtown Kelowna
- Young professionals who want walkability
- Downsizers looking for a lock-and-leave lifestyle
- Parents buying for future student or family use
- Long-term rental investors
- Buyers who want a smaller building feel instead of a large tower
- Pet owners who value dog-friendly building features
SAVOY may not be the best fit for:
- Buyers who need confirmed full-time Airbnb income
- Buyers wanting large resort-style amenities
- Families needing larger floorplans
- Buyers who only want concrete high-rise construction
- Investors focused only on maximum short-term cash flow
One of SAVOY’s biggest strengths is location. From 647 Clement Avenue, residents are close to Kelowna’s North End, downtown core, cultural district, lakefront, and brewery district.
Entertainment - Prospera Place, Kelowna Community Theatre, Rotary Centre for the Arts |
Food & Drink - Downtown restaurants, cafes, breweries, wine bars, and the Clement/Cawston brewery district |
Lake Access - Okanagan Lake, Waterfront Park, and lakefront walking paths |
Education - Future UBCO Downtown campus nearby; school catchments should be confirmed through SD23 |
Transit - Nearby bus access with connections to downtown Kelowna |
Daily Convenience - Shops, services, fitness studios, professional offices, and grocery options |
Outdoor Lifestyle - Waterfront trails, bike routes, Knox Mountain, and downtown walking areas |
Before writing an offer at SAVOY, buyers should review the full details of the unit and building.
Important items to confirm include:
1. Current active listings and recent comparable sales
2. Strata fees and what they include
3. Parking stall assignment
4. Storage locker assignment
5. Pet bylaws
6. Rental bylaws
7. Short-term rental restrictions
8. Developer disclosure statement and amendments
9. New home warranty coverage
10. GST status
11. Completion timelines
12. Resale competition in downtown Kelowna
The right unit at SAVOY could make sense, but the investment case depends on the price, floorplan, parking, strata fees, rental rules, and your long-term plan.
SAVOY is a good example of where Kelowna’s North End is heading.
This area is becoming more walkable, more urban, and more attractive to buyers who want to be close to downtown without necessarily living directly on the waterfront.
The opportunity with SAVOY is real, but buyers need to separate the lifestyle story from the rental story.
For someone who wants a newer condo or townhome near downtown Kelowna, SAVOY may be worth watching closely. For investors, the strongest angle is likely long-term rental demand rather than assuming full-time short-term rental income.
As always, the right decision comes down to the numbers, the unit, the strata rules, and your exit strategy.
1.Where is SAVOY on Clement located?
SAVOY on Clement is located at 647 Clement Avenue in Kelowna’s North End, close to downtown Kelowna, Prospera Place, the future UBCO Downtown campus, restaurants, breweries, and Okanagan Lake.
2.How many homes are in SAVOY on Clement?
SAVOY on Clement includes 66 homes in a 6-storey boutique condo and townhome development.
3.Is SAVOY on Clement good for investors?
SAVOY may appeal to investors because of its downtown Kelowna location, newer construction, walkability, and long-term rental demand. However, buyers should not assume it can be used as a full-time short-term rental property.
4.Is SAVOY on Clement Airbnb approved?
As of Kelowna’s current short-term rental framework, SAVOY does not appear to be on the City’s approved list for principal-use short-term rentals. Buyers should confirm the latest City rules, provincial rules, and strata bylaws before purchasing.
5.Can I rent out a condo at SAVOY long term?
Long-term rentals are generally allowed in British Columbia strata properties, but buyers should still review the strata bylaws, Form B, and disclosure documents before removing conditions.
6.Is SAVOY on Clement pet-friendly?
SAVOY has been marketed with pet-friendly features such as a dog run and dog wash / paw wash station. Buyers should confirm the exact pet rules, including number of pets, size limits, and any strata restrictions.
7.Who should consider buying at SAVOY?
SAVOY may be a good fit for buyers who want newer construction, downtown walkability, boutique urban living, and access to Kelowna’s North End lifestyle.
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