Showroom of ONE Water Street apartment photo: Sydney Morton/ Kelowna Capital News

Kelowna’s tallest tower prize in Choices Lottery

ONE Water Street is featured in the lottery selection

The tallest tower in the Okanagan Valley is featured in the B.C. Children’s Hospital Choices Lottery.

Once completed, the 36-storey East tower ONE Water Street promises to offer luxury lake view homes steps from the lake in downtown Kelowna.

The grand-prize winner can choose from one of seven luxury home packages, two of which feature Kelowna. The One Water Street two-bedroom apartment comes with a home in South Surrey and the other is at Quail Ridge. Or the winner has the option of choosing $2.2M instead.

Erin Cebula spokesperson for B.C. Children’s Hospital Choices Lottery says the ONE Water Street apartment is something they have never offered before.

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“What these kinds of packages do is conjure up drams and get people excited, it’s something to aspire to,” said Cebula.

So far the Choices Lottery has raised $50M for the B.C. Children’s Hospital and Cebula says she looks forward to raising more with this draw.

The apartment is valued at $980,000 for 1128 square feet and features two bedrooms and two bathrooms surrounded by remarkable views of Okanagan Lake.

One of the listing agents for ONE Water Street, Mark West predicts that Kelowna will see more towers rising in the city. He says that when the opportunity to build the tallest tower in the Okanagan presented itself and they decided to go all in.

“We literally had the conversation with the developer do you want to go big or go home and we decided to go big,” said West.

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Short term rentals though will not be welcome once the East tower is completed in 2021. A stipulation requires that no rentals be under a month. If an owner wanted to rent out the space they would have to rent it out for at least 30 days.

West says that 350 of the 427 homes have been sold and over half of the homes sold have been to locals.

“Eighty per cent of buyers here are going to be owner occupiers,” said West. “It’s part of a community, there is a 1.2 acre amenity park, people moving here are really downsizing and moving to a different lifestyle.”

Tickets are still available for the 2019 Choices Lottery until April 11.

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@sydneyrmorton
sydney.morton@kelownacapnews.com

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